London: FNZ Group today 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.”
Adrian Durham, FNZ Group CEO
Founded in 2002 as part of ADIG Investment GmbH, ebase has been an independent and fully licensed bank and a subsidiary of Comdirect bank AG since its purchase in 2009. With around 260 employees, approximately 1.1 million customers and more than 280 co-operation partners – including banks, insurance companies, asset managers and independent financial intermediaries – ebase is now one of the leading business-to-business direct banks in Germany, with assets under administration (AuA) of around €34bn.
Current Managing Directors Rudolf Geyer and Lars Müller-Lambrecht will continue to lead the company from its headquarters in Aschheim, near Munich.
Rudolf Geyer, CEO of ebase, added: “Together with FNZ Group, we look forward to delivering our strategy and continuing our growth in the market.”