Community Corner

US Group Motive Pays $25m for 40% Stake in Irish Fintech Global Shares

Motive Partners, a US private equity company backed by the Ireland Strategic Investment Fund (ISIF), has taken a 40 per cent stake in Irish fintech start-up Global Shares.

No financial details of the transaction have been disclosed but industry sources estimate Motive paid about $25 million (€21.3 million) for the stake.

Headquartered in Clonakilty, Co Cork, Global Share, which was founded in 2005, is a provider of software and services for employee equity share plan administration.

The company, which is chaired by former IFG chief executive Richard Hayes, has developed a proprietary, cloud-based platform enabling service to clients with employees across jurisdictions, time zones and languages.

More than 250 blue-chip companies use Global Share’s platform to operate their employee share plans, including GSK, Cargill, Sage and Italian insurance company Generali.

Global Shares has experienced dramatic growth of late with revenue having increased 60 per cent in the past year. Employee numbers have also jumped, rising from 68 in 2015 to more than 175 currently.

Named as Deloitte’s “Irish fintech company of the year” in 2017, the company reported a €2.7 million loss for 2016 on turnover of €4.5 million.

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