M&A
confidence high
sentiment positive
materiality 0.72
Valley National to acquire Bluevine for $340M, ~8% accretive to estimated 2028 EPS
VALLEY NATIONAL BANCORP
- Valley will acquire Bluevine Inc. for ~$340M total consideration: ~75% cash (~$255M) and ~6.3M VLY common shares (~25%), subject to customary adjustments.
- Bluevine brings $2.1B of digitally-sourced deposits growing at ~35% CAGR from 2023 through Q2 2026, ~175,000 active small business customers, and ~99% non-borrowing depositors.
- Deal expected ~8% accretive to estimated 2028 EPS and ~5% tangible book value dilution at closing, with an estimated ~3-year earn-back period.
- Adds ~180 R&D and engineering staff in Redwood City, Jersey City, Salt Lake City and Tel Aviv; Bluevine Co-Founder/CEO Eyal Lifshitz will join Valley as Head of Small Business Banking.
- Close expected in early 2027 subject to standard regulatory approvals; Cantor Fitzgerald and Wachtell Lipton advise Valley, Financial Technology Partners and Sidley Austin advise Bluevine.