South Korea’s Mirae Asset World Investments introduced its acquisition of Stockspot, a outstanding Australian robo-advisor specialist.
In a press release launched on Wednesday, the funding large revealed it bought about 53% of Stockspot’s shares for about 28 million Australian {dollars} ($17.9 million). Mirae Asset World Investments additionally hinted at additional acquisitions, with plans to safe the remaining shares beneath a predetermined possibility contract construction.
Stockspot, since its inception in 2013, has grown considerably. As of final June, it managed belongings equal to roughly $426 million, making it a forerunner within the Australian robo-advisory area.
The strategic acquisition aligns with Mirae’s roadmap to spearhead AI-driven monetary companies and to penetrate the Australian pension market extra deeply.
“This transfer positions us to actively goal not solely the Australian market however the broader world monetary spectrum,” Mirae Asset Monetary Group chairman Park Hyeon-Joo stated. “We’ll take into account the robo-advisor as one other new progress engine and supply differentiated companies.”
Write to Man-Su Choe at bebop@hankyung.com
