FNZ Group has acquired European Bank for Financial Services (ebase) from Comdirect bank in a deal worth €154m.
The deal sees FNZ acquire 100 per cent of ebase. Under its new owner, ebase will continue its goal of becoming a leading digital financial services partner in Germany by investing into its technology and customer service.
Following the close of the deal, current managing directors of ebase Rudolf Geyer and Lars Müller-Lambrecht will continue to lead the company.
Founded in 2012, ebase is a fully licensed bank and currently has over 1.1 million customers and 280 co-operation partners including banks, insurance companies, asset managers and independent financial intermediaries. Its products include B2B-specific solutions for asset accumulation and investment as well as tools for securities accounts.
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.”
FNZ partners with financial institutions to help them offer their clients multi-channel wealth management services.
Last year, Caisse de dépôt et placement du Québec (CDPQ) acquired a minority stake in FNZ. While the value of the investment was not disclosed, it had valued the company at $1.65bn.
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