Chrysalis Investments sells holding in Featurespace to Visa
This is the latest push from Visa to bolster its AI capabilities, as Antony Cahill, global head of value-added services at Visa, said: “Featurespace’s strong foundation in AI will enhance our existing product portfolio and enable us to address our clients’ most complex and pressing challenges.”
Regarding Chrysalis, the transaction is expected to generate £89m in gross proceeds for Chrysalis, with £79m to be paid upfront, according to a London Stock Exchange notice on Thursday (26 September).
The sale price of Featurespace will come at a 20% premium to Chrysalis’ current carrying value…