Fenergo’s Acquisition Gets Green Light From the EU Commissionby Fintechnews Switzerland July 30, 2021
The acquisition of Irish regtech firm Fenergo by private equity firms, the Paris-based Astorg and London-based Bridgepoint has been concluded in a US$600 million deal.
The transaction was completed following approval by the European Commission.
This deal could potentially push Fenergo’s market valuation to US$1.165 billion, making it one of Ireland’s new unicorns.
Entering its third chapter of growth, Fenergo aims to develop innovative, digital solutions that equip financial institutions with the tools to navigate the highly complex regulatory environment and fight financial crime, transforming client operations, accelerating growth and enhancing client and employee experience.
Fenergo recently strengthened its C-suite to work alongside Marc Murphy, who will continue to strategically steer the business towards organic and inorganic growth.
The regtech will drive deeper market penetration and geographic footprint through the continued innovation of its SaaS and on-premise platforms and product line development.
“We are excited to embark on the next chapter of our story with Astorg and Bridgepoint following the conclusion of our acquisition. Both firms have a proven track record in investing in and scaling high-growth firms like Fenergo.
The acquisition validates the unique value Fenergo delivers to financial institutions in today’s rapidly evolving business environment, and we look forward to continuing our growth trajectory with the support of our new investors,”
said Marc Murphy, CEO of Fenergo.
Featured image credit: Edited from Unsplash