Capital One Agrees to Acquire Fintech Brex for $5.1 Billion (3)

Capital One Financial Corp. agreed to acquire Brex, a financial-technology company that focuses on corporate expense management and accounting, for $5.15 billion.

The bank plans to buy closely held Brex for roughly 50% cash and 50% stock, McLean, Virginia-based Capital One announced in a statement Thursday, along with its fourth-quarter results.

The deal would be Capital One’s biggest since its roughly $35 billion acquisition of Discover Financial Services last year, which created the biggest US credit-card lender.

“Since our founding, we set out to build a payments company at the frontier of the technology revolution,” Capital One Chief Executive Officer ...