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Thursday, April 18, 2024

Jones Day advises WebFG on its sale to Allfunds

Jones Day has represented Web Financial Group, S.A. in the sale of all its technology business to Allfunds, one of the world’s leading B2B WealthTech platforms for the fund industry

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Allfunds, one of the world’s leading B2B WealthTech platforms for the fund industry, today announces that the acquisition of Web Financial Group, S.A. (‘WebFG’), a European financial technology company and provider of software solutions to the wealth management sector, has closed following completion of customary closing conditions.   

WebFG, now a wholly-owned subsidiary of Allfunds, will continue operating under its existing brand within the Allfunds ecosystem.

The acquisition will help Allfunds to further bolster its tailor-made solutions available for the wealth management industry and progress towards an even more streamlined, efficient fund distribution ecosystem.  Allfunds will approach strategically the combined service offering and scalability for WebFG’s existing client base, which includes retail banks, wealth managers, investment platforms and private banks.

As part of this investment, Allfunds will onboard the 91 employees of WebFG which are located across six offices in Europe, further boosting its global footprint in key markets such as France, Germany, Spain, Sweden, Switzerland and the UK.

The financial terms of the deal allow Allfunds to create value for its shareholders immediately and generate positive earnings per share.

With WebFG, Allfunds broadens the value proposition for its clients and reinforces its capabilities in the digital ecosystem, key for the future development of the company.

Jones Day´s Madrid office team was led by M&A partner Miguel Bermúdez de Castro, who was supported by Blanca Puyol (M&A, Madrid), Marina Bru (M&A, Madrid), Carlos Albiñana (Tax, Madrid), Marta Delgado (Antitrust, Madrid), Raimundo Ortega (Antitrust, Madrid), Sergio Cires (Financial Markets, Madrid), Patricia Vela (Financial Markets, Madrid), Vidal Galindo (Labour, Madrid), Javier Gutiérrez (Labour, Madrid), Irene Robledo (Cyber, Madrid), Matthew E. Barrett (M&A London), Charlotte Bienabe (Labour, Paris), Raphaël Ben Chemhoun (M&A, Paris), Henning Heinrich (Intellectual Property, Düsseldorf), Ivo Posluschny (M&A, Munich), Stefanie Stöhr (M&A, Munich), Mark Taylor (Labour, London), William Bettle (Business Restructuring & Reorganization, London), William McDonald (M&A, London) and Katherine Thorne (M&A, Atlanta).

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