IBM Buys Canadian Fintech Expertus to Bolster Payments Offerings

Firm processes more than $50 billion in daily transactions
Acquisition to help IBM clients keep up with PayPal, Square

Buffett Says Berkshire Has Bought About $10.7 Billion In IBM — Photographer: Scott Eells/Bloomberg

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By Kevin Orland

December 15, 2020 at 9:25 PM UTC

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International Business Machines Corp. bought Expertus Technologies Inc., a Canadian financial-technology firm that helps process more than $50 billion in transactions a day, to bolster its electronic-payments capabilities.

Closely held Expertus has been added to the IBM Global Business Services unit, the Armonk, New York-based buyer said in a statement Tuesday. Financial terms of the deal weren’t disclosed.