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Global Shares has nearly $200 billion in assets under administration.
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JPMorgan
Chase is making its latest fintech investment, agreeing to buy Global Shares of Ireland.
The bank (ticker: JPM) is acquiring all of Global Shares. The deal, which is expected to close in the second half of this year, is valued at $750 million, a person familiar with the situation said. Global Shares will become part of JPMorgan’s asset- and wealth management business.
Founded in 2005, Global Shares provides technology that helps companies manage their employee stock plans. The Clonakilty, Ireland, company has more than 600 corporate clients, ranging from early-stage startups to mature multinational public corporations like
Krispy Kreme Doughnuts
(DNUT), L’Oréal Paris, and
Generali
.
Global Shares has nearly $200 billion in assets under administration. It employs more than 600 people.
JPMorgan is one of the biggest U.S. banks with $3.7 trillion in assets as of Dec. 31. The stock was up more than 2% to $132.21 in afternoon trading Tuesday, while the
S&P 500
had gained 2.1%.
The Global Shares transaction represents an exit for
Motive
Partners, which invested in July 2018. The financial technology-focused private-equity firm invested $25 million for a 40% stake, the person familiar with the matter said. Motive stands to make about 10 times its money with the sale, the person said.
The transaction is the latest fintech investment for JPMorgan. In January, the bank agreed to buy a 49% stake in payments company Viva Wallet. Other deals include acquiring a majority in
Volkswagen
’s
payments business in 2021, as well as scooping up a stake in the private stock-trading platform Zanbato, and the acquisition of OpenInvest, a managed-indexing specialist.
JPMorgan is also developing a digital network that will match startups with investors, a different person familiar with the situation said. The business is run by Michael Elanjian, who heads JPMorgan’s digital private markets. CNBC earlier reported news of JPMorgan’s digital network.
“Global Shares’ cap table management capabilities represent an important addition to the portfolio of digital solutions we are building for private companies,” Elanjian said in a statement.
Write to Luisa Beltran at luisa.beltran@dowjones.com
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