HSBC Buys Metris

Share this article:
HSBC Finance Corp. will acquire Metris Companies Inc. in an all-cash transaction valuing Metris at $1.594 billion. Metris will become a wholly owned subsidiary of HSBC Finance. The announcement was made yesterday.


HSBC Finance, Prospect Heights, IL, is the nation's sixth-largest issuer of MasterCard and Visa cards. Metris, based in Minnetonka, MN, and with offices in five states, is the 11th-largest issuer, with managed receivables of about $5.9 billion. Metris mainly serves the near-prime credit card market through direct mail and partnership affiliations.


Share this article:
close

Next Article in Data/Analytics

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Data/Analytics

SAP Ramps Up Canadian Cloud Investment

SAP Ramps Up Canadian Cloud Investment

It's one of 16 new data centers the software company will open this year to meet a 39% increase in demand for cloud services.

Top 5 Spending and Investment Insights from Marketers

Top 5 Spending and Investment Insights from Marketers

Confidence in data-driven marketing led marketers to set high Q1 2014 goals.

MeritDirect Introduces Predictive Marketing Suite

MeritDirect Introduces Predictive Marketing Suite

New solutions include next logical product and customer lookalike modeling. The long-time direct marketing player announces it will open a San Jose office in September.