Israeli fintech BondIT acquiring Germany-based Scorable
The acquisition will be carried out as a shares exchange, estimated to be worth $12 million to $16 million
Meir Orbach | 10:38 19.11.2020
BondIT, an Israeli fintech company that develops a portfolio management system for investors, announced that it is acquiring Berlin-based company Scorable that provides AI-driven investment analysis and research as a service. The acquisition will be carried out as a shares exchange, estimated to be worth $12 million to $16 million. Scorable’s 20 employees will join the Israeli company’s existing team of 30 people. Up until now, Scorable was owned by German investment firm Ampega, which manages 150 billion Euros and is owned by Talnax, Germany’s third-largest insurance company. As part of the deal, Ampega will become the major shareholder of BondIT, with Ampega’s CEO and chairman, Harry Ploemacher, joining BondIT’s board of directors.