United Fintech has acquired a 25% stake in investment portfolio management fintech Athena Systems for an undisclosed amount.
The multi-step acquisition agreement is the company’s fourth acquisition in 14 months.
The fintech conglomerate intends to obtain an additional 26% of Athena in two years and the remaining 49% in three years, as well as to integrate Athena, its customers and its employees into the United Fintech digital platform.
Athena has offices in the United States, Spain and Vietnam and provides services to asset managers and hedge funds.
The move is part of United Fintech’s plan to consolidate various capital markets fintechs under one roof. The acquisition of Athena allows it to broaden its mandate by targeting the asset management industry as it seeks to build a broad capital markets platform.
The deal follows United Fintech’s acquisition of London-based trade analytics firm FairXchange last November, again for an undisclosed amount.
The stated objective of the CEO of United Fintech, Christian Frahm, is to become a “one-stop shop” for large banks in need of technological innovation.
“The financial services industry is waking up to a reality that demands not only that they digitize, but also that they help their customers digitize,” says Frahm.
“Like banks, the managed currency space is experiencing huge disruption from free stock trading, robo-advisors and new fintech start-ups, and this is where fintech – and in particular Athena – can make a huge difference.”