FNZ Acquires EBASE
FNZ Group has completed the acquisition of leading German investment platform company ebase (European Bank for Financial Services) from Comdirect Bank in a transaction worth €154 million.
The purchase, which was originally agreed in July 2018, and has since been approved by the appropriate regulatory authorities, will see the global FinTech company acquire 100% of the firm.
Under FNZ Group’s ownership, ebase will continue with its strategy to become the leading digital financial services partner in Germany, through sustained investment in technology and customer service.
Adrian Durham, CEO of FNZ Group said: “This is an important milestone for FNZ Group and reaffirms our commitment to becoming a leader in the provision of B2B digital wealth management technology for financial institutions and their customers globally.
“ebase is a well-established investment platform and leader in the digitisation of wealth management solutions, known for its performance in the German financial services market.
“We look forward to partnering with the highly-capable ebase team to grow their business in Germany and together expand the range of state-of-the-art technology platforms available to support wealth management.”
Kirkland & Ellis acted as legal adviser to FNZ and Preu Bohlig assisted with IP, IT and Data Protection related issues. Key individuals of Preu Bohlig who assisted with the transaction included Christian Breuer (Data Protection), Andreas Haberl (IP) and Daniel Hoppe (IT).