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M&A Deal Summary

ConsenSys AG Acquires JPMorgan Chase & Co. - Quorum

On August 25, 2020, ConsenSys AG acquired information technology company JPMorgan Chase & Co. - Quorum from JPMorgan Chase

Acquisition Highlights
  • This is ConsenSys AG’s 1st transaction in the Information Technology sector.
  • This is ConsenSys AG’s 1st transaction in the United States.
  • This is ConsenSys AG’s 1st transaction in New York.

M&A Deal Summary
Date 2020-08-25
Target JPMorgan Chase & Co. - Quorum
Sector Information Technology
Buyer(s) ConsenSys AG
Sellers(s) JPMorgan Chase
Deal Type Divestiture

Target

JPMorgan Chase & Co. - Quorum

New York, New York, United States
JPMorgan Chase & Co.'s Quoruman enterprise-variant of the Ethereum blockchain developed by J.P. Morgan (NYSE: JPM). Quorum offers digital asset functionality and document management.

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Buyer(S) 1

Buyer

ConsenSys AG

Brooklyn, New York, United States
Category Company
Sector Software
DESCRIPTION

ConsenSys AG is a blockchain software company. The company product suite, composed of Infura, Quorum, Codefi, MetaMask, and Diligence. ConsenSys is based in Brooklyn, New York.

DEAL STATS #
Overall 1 of 1
Sector: Information Technology M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: New York M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2020 M&A 1 of 1

Seller(S) 1

SELLER

JPMorgan Chase

New York, New York, United States
Category Company
Founded 1799
Sector Financial Services
Employees311,921
Revenue 177.4B USD (2024)
DESCRIPTION
Entrance to Chase Tower in downtown Chicago, Illinois.
Entrance to Chase Tower in downtown Chicago, Illinois.

JPMorgan Chase is a financial institution provides investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. JPMorgan Chase was founded in 1799 and is based in New York, New York.

DEAL STATS #
Overall 9 of 12
Sector: Information Technology M&A 1 of 1
Type: Divestiture M&A Deals 6 of 7
State: New York M&A 1 of 3
Country: United States M&A 7 of 10
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-17 InstaMed Communications

Philadelphia, Pennsylvania, United States

InstaMed Communications LLC is a healthcare payments network, connecting providers, payers and consumers on one platform. InstaMed Network connects over two-thirds of the market and processes tens of billions of dollars in healthcare payments annually. InstaMed reduces the risks, costs and complexities of working with multiple payment vendors by delivering one platform for all forms of payment in healthcare, designed and developed on one code base and supported by one onshore team of experts in healthcare payments. InstaMed Communications LLC was founded in 2004 and is based in Philadelphia, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-02 55ip

New York, New York, United States

55ip is a financial technology company with proprietary capabilities empowering financial advisors to deliver tax-smart investment strategies at scale. Financial advisors use 55ip's tax-smart investment strategy engine to improve their efficiency and effectiveness. 55ip's intuitive experience and intelligent automation elevate portfolio design and delivery, helping advisors save time and drive better outcomes for their clients.

Buy -
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