JPMorgan to buy Irish fintech firm Global Shares

(Reuters) – JPMorgan Chase & Co said on Tuesday it would buy Global Shares, an Irish fintech firm whose software helps businesses manage employee stock plans.

The deal, the terms of which were not disclosed, was expected to close in the second half of this year.

Founded in 2005, Global Shares manages nearly $200 billion in assets and its cloud-based platform is used by more than 600 clients.

The U.S. bank plans to integrate the company into its asset and wealth management business, according to a statement. Global Shares will remain headquartered in Cork, Ireland.

(Reporting by Mehnaz Yasmin in Bengaluru; Editing by Aditya Soni)