M&A Deal Summary

Social Finance Acquires Galileo Financial Technologies

On April 7, 2020, Social Finance acquired information technology company Galileo Financial Technologies for 1.2B USD

Acquisition Highlights
  • This is Social Finance’s 2nd transaction in the Information Technology sector.
  • This is Social Finance’s largest (disclosed) transaction.
  • This is Social Finance’s 2nd transaction in the United States.
  • This is Social Finance’s 1st transaction in Utah.

M&A Deal Summary
Date 2020-04-07
Target Galileo Financial Technologies
Sector Information Technology
Buyer(s) Social Finance
Deal Type Add-on Acquisition
Deal Value 1.2B USD
Advisor(s) Qatalyst Partners LP (Financial)
Dorsey & Whitney LLP (Legal)

Target

Galileo Financial Technologies

Salt Lake City, Utah, United States
website
Galileo Financial Technologies, Inc. is a financial services API and payments platform provider for fintech, financial services, and investment firms. Galileo Financial Technologies is based in Salt Lake City, Utah.

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Buyer(S) 1

Buyer

Social Finance

San Francisco, California, United States

website

Category Company
Founded 2011
Sector Financial Services
DESCRIPTION

Social Finance, Inc. (dba SoFi) is a finance company taking a radical approach to lending and wealth management. From unprecedented products and tools to faster service and open conversations, we’re all about helping our members get ahead and find success.

DEAL STATS #
Overall 2 of 3
Sector (Information Technology) 2 of 2
Type (Add-on Acquisition) 2 of 3
State (Utah) 1 of 1
Country (United States) 2 of 3
Year (2020) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-01 Zenbanx Holding

Claymont, Delaware, United States

Zenbanx Holding Ltd. is a financial technology provider that offers mobile, multi-currency accounts through relationships with regulated financial institutions.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-22 Technisys

Miami, Florida, United States

Technisys is a provider of digital core and omnichannel banking software and related services to over 40 financial institutions across North and South America. Technisys was established in 1995 and is based in Miami, Florida.

Buy $1.1B
Mergr

Product

Company

Legal