Motive Partners, a specialist private equity firm focused on growth equity and buyout investments in software and information services companies that serve the financial services industry has received the necessary regulatory approvals and completed the sale of Global Shares to J.P. Morgan. Motive invested in Global Shares in August 2018, acquiring a ~40% stake in the business.
Global Shares will now undertake its next chapter of expansion under new ownership as part of J.P. Morgan, having expanded to approximately $200 billion in assets under administration spanning over 800,000 corporate employee participants. As stated while signing the agreement,
J.P. Morgan, which will maintain its Clonakilty, Ireland headquarters following the acquisition, will attempt to integrate Global Shares into its Asset & Wealth Management line of business. Both Motive Industry Partner Andy Stewart and Motive Industry Partner Neil Cochrane will leave their positions on the board of directors as part of the closing.
“We are delighted with the growth and expansion of Global Shares, and the impact this business has had for its clients in recent years. I believe this to be a great example of Ireland’s exceptional financial technology talent and environment, and we’re grateful to Tim and the whole Global Shares team for their partnership. It has been a privilege to work with them and we look forward to the many future successes that lie ahead for the Global Shares team as part of J.P. Morgan”.
Andy Stewart, Industry Partner at Motive Partners and former Executive Chairman of Global Shares.
“I welcome the completion of the acquisition of Global Shares by J.P. Morgan. This is a stellar example of the Ireland Strategic Investment Fund, through its investment in Motive, helping to develop and grow an Irish business to secure this investment from a global player such as J.P. Morgan. I also welcome the fact that the company will retain its headquarters in Clonakilty during the next phase of its growth agenda, thereby providing future employment in financial technology in the region”.
Paschal Donohoe, Minister for Finance for Ireland.