JPMorgan Chase & Co. said Monday it's paying an undisclosed sum to acquire Renovite Technologies Inc., a privately-held cloud payments technology company based in Fremont, Calif. and founded in 2015. Renovite Technologies has been a service provider to JPMorgan since 2021. Max Neukirchen, global head of payments and Commerce Solutions at JPMorgan, said Renovite Technologies "will help us achieve our goal to develop the next-generation payments processing platform globally." Shares of JPMorgan Chase are down 24.7% in 2022, compared to a 11.5% drop by the Dow Jones Industrial Average .
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
