Goldman Sachs agrees to buy GreenSky for 2.24bn

Goldman Sachs agrees to buy GreenSky for 2.24bn

Bloomberg

Goldman Sachs Group Inc. agreed to buy GreenSky Inc for about $2.24 billion, adding to its Marcus consumer-banking platform a company that offers payment plans to customers with home-improvement projects or health-care needs. The New York-based bank will pay 0.03 share of its common stock for each share of Atlanta-based GreenSky, which works out to about $12.11 a share, according to a statement. In buying GreenSky, the bank is adding a fintech firm that works with more than 10,000 merchants to offer payment options to their customers.

Consumers, especially younger people, have flocked in recent years to buy-now, pay-later programs offered by companies including Afterpay Ltd and Affirm Holdings Inc. Goldman is already working with Apple Inc on a buy-now, pay-later program, people with knowledge of the matter said in July. In buying GreenSky, the bank is adding a fintech firm that works with more than 10,000 merchants to offer payment options to their customers. “We have been clear in our aspiration for Marcus to become the consumer-banking platform of the future, and the acquisition of GreenSky advances this goal,” Goldman Chief Executive Officer David Solomon said in the statement. “GreenSky and its talented team have built an impressive, cloud-native platform