Fintech group FNZ Group has completed the acquisition of German investment platform company ebase (European Bank for Financial Services) from Comdirect Bank in a transaction worth €154m.
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.
Adrian Durham, CEO of FNZ Group, said: “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.
Founded in 2002, 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 a 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.