GoLogiq, a fintech and consumer data analytics provider based in the US, has signed a non-binding letter of intent to purchase Australian boutique investment manager Bateau Asset Management.

Founded in 2016, Bateau offers its clients with investment research and education in easy formats.

The firm, which also has an office in Singapore, uses a multi-manager approach to investment.

It caters to diverse clients such as high net worth individuals, family offices as well as non-profit organisations.

Bateau has advisory teams in Perth and Singapore. It also employs a compliance and corporate governance team.

Under the new all-stock deal, GoLogiq will issue common shares valued at $24m to Bateau shareholders.  

The deal helps GoLogiq to enter the Southeast Asian fund management sector.

It also complements the firm’s proposed $15m takeover of Sydney-based CPG Research & Advisory and its fintech platform in North America.

GoLogiq will be able to add four global investment funds to its portfolio as part of the acquisition.

The deal is expected to be completed by the second quarter of this year.

It comes shortly after GoLogiq concluded the purchase of global financial technology firm GammaRey.

GoLogiq interim CEO, Brent Suen said: “Bateau provides GoLogiq with a transformational opportunity to significantly expand our position in one of the world’s most dynamic investment markets and strengthen our focus on meeting the increasingly complex capital needs of clients around the world.

“Bateau’s professionals share with GoLogiq deep experience and skills, flexibility and innovative thinking, along with culture of investment excellence focused on delivering long-term value for its stakeholders.”