LONDON (ShareCast) - (Sharecast News) - US credit card company Capital One is reportedly poised to swoop on British luxury concierge service Velocity Black in a deal said to be worth hundreds of millions of dollars.
According to Sky News, Capital One has struck a deal to acquire Velocity Black, which was founded in 2014 and offers its well-heeled members priority access to upmarket events and experiences.

City sources told Sky the deal had been agreed, but had yet to be publicly announced. One added that it could value the business at about $300m (£240.5m), although that valuation could not be confirmed on Wednesday.

If completed, the deal would offer Capital One a way to attract and retain high-spending customers amid a constant battle between companies like it and American Express.

Velocity Black was set up by Zia Yusuf, a former Goldman Sachs banker, and Alex Macdonald.

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