Enova Completes Acquisition of OnDeck

Enova International (NYSE: ENVA), a leading financial technology and analytics company offering consumer and small business loans and financing, today announced it has completed the acquisition of On Deck Capital, Inc. (NYSE: ONDK), a leader in online lending for small business, for $1.89 per share, or approximately $122 million. The acquisition creates a company with significant scale and diverse product offerings in consumer and small business market segments with combined originations of nearly $5 billion in 2019 and approximately seven million customers.
Under the terms of the agreement, OnDeck shareholders received 0.092 of a share of Enova common stock and $0.12 in cash for each share of OnDeck held.