Customers Bancorp / BankMobile 2020
BM Technologies Inc. acquired BankMobile on December 29, 2020.
- Target
- BankMobile
- Acquirer
- BM Technologies Inc.
- Announced
- December 29, 2020
- Sub-sector
- Neobank
Transaction overview
- BM Technologies Inc. announced the acquisition of BankMobile on December 29, 2020.
Strategic rationale
Divestiture of digital bank subsidiary to focus on core banking operations and unlock shareholder value through separate public company listing.
Deal terms & multiples
Sources
- tmcnet.com /usubmit/2020/12/29/9282101.htm