Empower / Personal Capital 2020

Empower Retirement acquired Personal Capital for $1.0B on June 29, 2020.

Target

Personal Capital

Acquirer

Empower Retirement

Deal value

$1.0B

Deal type

Cash

Announced

June 29, 2020

Sub-sector

Wealthtech

Empower buys hybrid digital advice platform with $13B AUM to extend retirement business into broader wealth management for mass affluent.

Deal value

$1.0B

Target revenue

—

Target EBITDA

—

EV / Revenue

—

EV / EBITDA

—

Announcement

June 29, 2020

Close date

August 17, 2020

Acquirer

Empower Retirement (Strategic)

Target HQ

United States

Deal type

Cash

Sub-sector

Wealthtech

Source: empower.com