M&A Deal Summary

Purpose Advisor Solutions Acquires Wealthsimple

On January 23, 2020, Purpose Advisor Solutions acquired internet software and services company Wealthsimple from Allianz X

Acquisition Highlights
  • This is Purpose Advisor Solutions’ 1st transaction in the Internet Software and Services sector.
  • This is Purpose Advisor Solutions’ 1st transaction in Canada.
  • This is Purpose Advisor Solutions’ 1st transaction in Ontario.

M&A Deal Summary
Date 2020-01-23
Target Wealthsimple
Sector Internet Software and Services
Buyer(s) Purpose Advisor Solutions
Sellers(s) Allianz X
Deal Type Add-on Acquisition

Target

Wealthsimple

Toronto, Ontario, Canada
Wealthsimple is an online investing service and trading app investing client's money in a globally diversified portfolio of low-cost index funds, and cutting-edge technology helps to earn the best possible return while optimizing tax bill. Wealthsimple was founded in 2013 and is based in Toronto, Ontario.

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Buyer(S) 1

Buyer

Purpose Advisor Solutions

Toronto, Ontario, Canada
Category Company
Founded 2017
Sector Financial Services
DESCRIPTION

Purpose Advisory Solutions is a financial services company creating the tools, services & support to help financial advisors build their own business. PAS was formed in 2017 and is based in Toronto, Ontario.

DEAL STATS #
Overall 1 of 1
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2020) 1 of 1

Seller(S) 1

SELLER

Allianz X

Investor Investor Investor

Category Corporate Investor
Founded 2013
PE ASSETS 2.0B EUR
Size Large
Type Sector Focused
DESCRIPTION

Allianz X is the growth-oriented investment arm of Germany insurance and financial services company Allianz Group. Allianz X looks to invest in and acquire expansion stage financial and insurance technology companies throughout the world. The Firm has special interest in businesses that can benefit from Allianz's expertise and global reach. Allianz X was formed in 2013 and is based in Munich.

DEAL STATS #
Overall 1 of 6
Sector (Internet Software and Services) 1 of 5
Type (Add-on Acquisition) 1 of 2
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-26 SDA SE

Hamburg, Germany

SDA SE offers companies a digital service platform with unique architecture, namely, service-dominant architecture. This architecture is continuously being developed in a network of leading service scientists worldwide. The service platform is built upon the principles of openness and cooperation and facilitates collaboration with external partners. The value-added services of the platform can easily be made available to end customers via suitable touchpoints. SDA SE was founded in 2016 and is based in Hamburg, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-09 ControlExpert

Langenfeld, Germany

ControlExpert develops multifaceted products and services for insurance companies, fleet operators, leasing firms, repair shops, car dealerships, automotive manufacturers, and motor vehicle experts. It links up all the parties involved in the claims and maintenance process and establishes an electronic, data-supported communication standard based on structured data. ControlExpert was formed in 2002 and is based in Langenfeld, Germany.

Buy -
Mergr

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