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Is Sofi acquiring Galileo Financial Technologies (Galileo)?

SoFi, the online personal finance company, today announced it has signed a definitive agreement to acquire Galileo Financial Technologies (“Galileo”), the powerful financial services API and payments platform. SoFi will pay total purchase consideration of $1.2B to acquire Galileo, comprising cash and stock.

What is the difference between Sofi & Galileo?

SoFi is a Fintech company that provides a suite of financial products to the consumer (B2C) meanwhile, Galileo is a leading Fintech infrastructure platform serving upcoming Neo banks (B2B).

What's the deal with Sofi & Galileo?

Last year, SoFi merged with Galileo, a leading enterprise technology banking infrastructure that is empowering upcoming FinTech companies. The merger between SoFi and Galileo has built an impenetrable moat that will be hard for other Fintech companies to imitate. My Price target is $30 post-merger.

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