WilmerHale Advises SoFi in Acquisition of Galileo

WilmerHale Advises SoFi in Acquisition of Galileo

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On April 7, 2020, SoFi, the online personal finance company, announced that it has signed a definitive agreement to acquire Galileo Financial Technologies, the financial services API and payments platform, for $1.2 billion. With the addition of Galileo, SoFi strengthens its capabilities, rounding out its best-in-class technology ecosystem. Additionally, the combination will extend the reach of its products to other Galileo partners in the United States and international markets, while offering diversification and scale to SoFi's existing infrastructure. Galileo will continue to operate as an independent subsidiary of Social Finance Inc, and will collaborate with SoFi to accelerate the technology roadmap needs for consumer financial offerings, as well as offering the full SoFi suite of products and services to those Galileo partners who are looking to broaden their offering to better meet the needs of their customers. The transaction is subject to regulatory approvals and other customary closing conditions.

The WilmerHale team representing SoFi was led by Stephanie Evans and included Eric Hanson, Adam Freiman, James Higgins, Alex Bernstein, and Rylee Johnston for corporate and Ciara Baker, Michael Bevilacqua, Leon Greenfield, Scott Kilgore, Kirk Nahra, Chalyse Robinson, Matt Schnall, Kim Wethly, Joseph Minko, Nathan Moore, Meghan Walsh and Lauren Ige for other specialists areas.

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