Capital One Financial is looking into the acquisition of Discover Financial Services, according to The Wall Street Journal. A deal could be announced as early as tomorrow, and it would likely be an all-stock transaction.
While Capital One currently works with Visa and Mastercard, the Discover brand would remain intact following the closing of the deal, according to the WSJ’s sources. By acquiring Discover, Capital One would be able to expand Capital One’s credit card offerings.
Last year, Capital One acquired Velocity Black, a premium credit card and luxury rewards company. In 2018, Capital One acquired Wikibuy, which has been central for powering Capital One Shopping. This tool matches premium retailers with consumer shoppers to drive meaningful engagements and considerable financial benefits for all.
