• Fidelity Investments, one of the world’s largest financial services providers has announced its complete acquisition of the global fintech firm, Shoobx.
• Shoobx offers automated equity management operations and financing software for private companies at all growth stages, up to and including an initial public offering (IPO).
• Fidelity and Shoobx’s offerings in this area evolved over the course of more than a year since summer 2019.
Fidelity Investments, one of the world’s largest financial services providers, has made its first acquisition in seven years with the acquisition of global fintech firm Shoobx. This move will help Fidelity deepen its foothold in the private market where it has a strong presence.
Shoobx offers automated equity management operations and financing software for private companies at all growth stages, up to and including an initial public offering (IPO). This is an area where Fidelity has a strong presence as well, with its Stock Plan Services division, a part of the company’s Workplace Investing Division. In its new capacity as a part of Fidelity, Shoobx will be able to provide a complete equity management solution to the private market.
Fidelity and Shoobx have been working together since the summer of 2019, and their offerings in this area have evolved over time. The financial details of the deal are not public, but it is clear that Fidelity is making a strategic move to gain a stronger foothold in the private market.
The acquisition of Shoobx by Fidelity Investments is a significant step in the direction of providing financial services to the private market. This will give Fidelity an opportunity to offer a comprehensive equity management solution to its clients that will be backed by its strong presence in the private market. With the acquisition of Shoobx, Fidelity is sure to gain further ground in the private market and help its clients gain access to newer and better services.