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Home/News Feed/Chime to acquire Stride for $590M, boosting earnings immediately and raising guidance.
SONY
$23.57
+$0.04 +0.17%

Chime to acquire Stride for $590M, boosting earnings immediately and raising guidance.

Market News
09 Sep 2026
Seeking Alpha
View Source
Bullish
Chime to acquire Stride for $590M, boosting earnings immediately and raising guidance.

Chime Financial announced it will acquire its long-time banking partner Stride for $590 million in cash, a deal expected to immediately increase Chime's earnings per share. The acquisition, valued at about 1.5 times Stride's tangible book value, will be funded from Chime's cash reserves and is set to close in the first half of 2027. This move aligns with Chime's growth strategy and comes alongside an upward revision of its full-year and third-quarter earnings guidance. The deal has been unanimously approved by both companies' boards, signaling strong confidence in the transaction's benefits.

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