Sullivan & Cromwell, Goodwin Lead Amex-Kabbage Deal

Law360 (August 17, 2020, 12:33 PM EDT) -- American Express Co., advised by Sullivan & Cromwell LLP, said Monday it will be acquiring "substantially all" of the fintech lending company Kabbage Inc., advised by Goodwin Procter LLP, with a goal of offering a wider set of cash flow management and working capital products offerings to U.S.-based small business customers.

While the financial terms of the deal were not disclosed, the acquisition will see Kabbage personnel and financial technology products head over to American Express. The fintech company's data platform and intellectual property holdings will also be part of the transaction that is expected to close by the end of...

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