Plaid buys Cognito

Cognito offers several services to companies, including compliance services, such as KYC and anti-fraud and identity verification technology.

Plaid is buying a company that can help with the challenge of ID verification, while Cognito will likely benefit from Plaid’s scale. The USD 250 million was paid in cash and stock.

The deal follows around a year after Plaid’s failed USD 5.3 billion takeover bid from Visa.