FleetBoston Financial - M&A Summary and Business Overview

Financial ServicesCompany

FleetBoston Financial M&A Summary

FleetBoston Financial has acquired 3 companies. It has also divested 3 assets.

FleetBoston Financial’s largest acquisition to date was in 1999, when it acquired BankBoston for $16.0B. It’s largest disclosed sale occurred in 2001, when it sold Fleet Mortgage to Mr. Cooper Group for $660M. FleetBoston Financial has acquired in 3 different US states. The Company’s most targeted sectors include financial services (100%).

FleetBoston Financial Business Overview

Where is FleetBoston Financial headquartered?

FleetBoston Financial is headquartered in Boston, Massachusetts.

How many employees does FleetBoston Financial have?

FleetBoston Financial has 47,500 employees.

What sector is FleetBoston Financial in?

FleetBoston Financial is a financial services company.

When was FleetBoston Financial founded?

FleetBoston Financial was founded in 1791.

M&A Summary

  • M&A Total Activity6
    • M&A Buy Activity3
    • M&A Sell Activity3
  • Total Sectors Invested 1
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 3

FleetBoston Financial Corp.

100 Federal Street,
Boston, Massachusetts 02211
United States,
(617)434-2200

FleetBoston Financial was a bank and financial services firm created in 1999 by the merger of Fleet Financial Group and BankBoston.


M&A Summary

Buy vs Sell

Year ≤ '98 '99 '00 '01 '02 '03 T
Buy (0.2/yr) # 2 1 - - - - 3
vol $120M $16.0B $16.1B
Sell (0.4/yr) # 1 - - 1 - 1 3
vol $190M $660M $182M $1.0B
  6

Most Recent M&A

Company Date Value Type
InterPay, Inc. 2003-04-01 182M USD Divestiture
East Hanover, New Jersey
Fleet Mortgage Corp. 2001-06-01 660M USD Divestiture
Columbia, South Carolina
BankBoston Corp. 1999-03-15 16.0B USD Merger
Boston, Massachusetts
Option One Mortgage Corp. 1997-04-17 190M USD Divestiture
Santa Ana, California
Option One Mortgage Corp. 1995-01-01 120M USD Divestiture
Santa Ana, California
Shawmut National Corp. 1992-12-01 - Add-on Acquisition
Hartford, Connecticut
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Financial Services 3 (100%) 16.1B (100%) 2 (67%) 850M (82%)
Staffing - - 1 (33%) 182M (18%)
Total 3 $16.1B 3 $1.0B

By Geo

State/Country Buy Value Sell Value
United States 3 16.1B 3 1.0B
  California 1 120M 1 190M
  Massachusetts 1 16.0B - -
  Connecticut 1 - - -
  South Carolina - - 1 660M
  New Jersey - - 1 182M
Total 3 $16.1B 3 $1.0B

Deal Values

buy # Total
> $1B 1 $16.0B
$100M to $1B 1 $120M
TOTAL $16.1B
Largest BankBoston Corp.
$16.0B (1999-03-15)
sell # Total
$100M to $1B 3 $1.0B
TOTAL $1.0B
Largest Fleet Mortgage Corp.
$660M (2001-06-01)

M&A Connections

Deals
Divested to
Strategic(s)
100%
3 (100%)

Company Summary

SECTOR

Financial Services

Employees

47,500

Established

1791

Former Name

Fleet Financial Group

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