NEW YORK - American Express Co. has agreed to buy Inc., a Houston equipment finance company, for $107.5 million of cash.

SierraCities has $1.5 billion of receivables and would help American Express expand its small-business lending capabilities, particularly online. Amex said it would pay $5.68 for each outstanding share of SierraCities. The deal is subject to the tender of at least two-thirds of SierraCities' shares and is expected to be completed next month.

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