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.
- The deal is expected to close pending customary conditions.
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
Frequently asked questions
When did BM Technologies Inc. announce the acquisition of BankMobile?
BM Technologies Inc. announced the acquisition of BankMobile on December 29, 2020.
What sub-sector is BankMobile in?
BankMobile is tracked in the Neobank sub-sector.
Sources
- tmcnet.com /usubmit/2020/12/29/9282101.htm