Goldman Sachs and Atlanta based fintech company GreenSky (GSKY) have announced a merger in which the bulge bracket investment bank plans to acquire GreenSky in an all-stock transaction valued at approximately $2.24 billion. According to the merger agreement, GreenSky shareholders will receive 0.03 shares of Goldman Sachs shares for each share of GreenSky, which works out to about $12.11 a share, according to a statement issued on Wednesday.
The acquisition will enhance Goldman Sachs’ ability to provide consumers with the opportunity to save, spend, borrow and invest, and meet customers where they transact.
Founded in 2006 by David Zalik, GreenSky is a fintech platform that enables over 10,000 merchants to offer payment and loan services for four million customers.
