Go to deals
Financial Services | TMT

Ferocia has been acquired by Bendigo and Adelaide Bank (ASX:BEN)

Bendigo and Adelaide Bank (BEN) has entered into a share sale agreement to acquire 100% of the shares of Ferocia Pty Ltd for a consideration of up to US$86.3 million. BEN has partnered with Ferocia for more than nine years to deliver BEN’s e-banking app and internet banking platform and in 2018, the collaboration led to the launch of Up – Australia’s highest rating banking app.

Co-founded by Dominic Pym and Grant Thomas in 2011, Ferocia is a Melbourne-based software development company comprised of a close-knit team of talented developers and designers, driven by distilling complex problems into simple, elegant solutions that customers love. Up is a global leader in customer growth and continues to generate unparalleled customer engagement within the Australian neobank market.

Bendigo and Adelaide Bank is an Australian financial institution, operating primarily in retail banking. The company was formed by the merger of Bendigo Bank and Adelaide Bank in November 2007. Powered by technology-led customer experience design and run by an internationally experienced team, this acquisition will allow BEN to grow and advance the Up platform.

Oaklins’ team in Australia is pleased to have acted as M&A corporate advisor to Melbourne-based fintech Ferocia Pty Ltd on its sale to Bendigo and Adelaide Bank (ASX:BEN). The team worked with the founders on complex negotiations with their ASX-100 JV partner, successfully reaching an agreed outcome within a tight timeframe. This transaction adds to Oaklins’ strong track record in advising founder-led businesses on successful exits. The sale also adds to the team’s extensive deal experience within the finance and fintech space.

Parties

Talk to the deal team

Scott McInnes

Managing Director
Melbourne, Australia
Oaklins Henslow

Andrew Woodmore

Director
Melbourne, Australia
Oaklins Henslow

Related deals

Haufe-Lexware Real Estate AG has been acquired by Aareon Group, a portfolio company of Advent International
Real Estate | TMT

Haufe-Lexware Real Estate AG has been acquired by Aareon Group, a portfolio company of Advent International

The Haufe Group SE has sold Haufe-Lexware Real Estate AG to Aareon Group.

Learn more
GARAIO has been acquired by Netrics Group.
Private Equity | TMT

GARAIO has been acquired by Netrics Group.

Netrics Group has acquired GARAIO AG as a wholly owned subsidiary. GARAIO will continue to operate as an independent company under the umbrella of Netrics Group. With this acquisition, Netrics Group is further expanding its leading position as a provider of managed cloud and digital workplace solutions as well as consulting services.

Learn more
Doozer Real Estate Systems GmbH has been acquired by Zig Beheer B.V.
Real Estate | TMT

Doozer Real Estate Systems GmbH has been acquired by Zig Beheer B.V.

The shareholders of Doozer Real Estate Systems GmbH have sold the company to Zig Beheer.

Learn more