Platform technology firm FNZ has today completed the acquisition of German investment platform company, ebase.
Edinburgh-headquartered FNZ has purchased ebase (the European Bank for Financial Services) from German bank Comdirect Bank for €154m (£139m).
The sale was first agreed to last year, and has since received regulatory approval.
FNZ Group said that under its 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.”
ebase currently has 260 employees, approximately 1.1 million customers and more than 280 co-operation partners including banks, insurance companies, asset managers and independent financial intermediaries.
It currently holds €34bn (£30.8bn) assets under administration.
FNZ Group chief executive Adrian Durham says: “This is an important milestone and reaffirms our commitment to becoming a leader in the provision of business-to-business 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.”
The firm’s managing directors Rudolf Geyer and Lars Müller-Lambrecht will continue to lead the company from its headquarters outside Munich.
Geyer says: “Together with FNZ Group, we look forward to delivering our strategy and continuing our growth in the market.”