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January 5, 2021

SVB Financial inks $900m deal to take over Boston Private

By Amala Johney

SVB Financial Group, the parent of Silicon Valley Bank, has signed a $900m deal to acquire Boston Private Financial Holdings, the parent of Boston Private Bank & Trust Company.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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by GlobalData
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Under the terms of the merger agreement, Boston Private shareholders will receive 0.0228 shares of SVB common stock and $2.10 of cash for each share held.

The transaction, which has been cleared by the two companies’ boards, is expected to complete in the middle of this year. It now awaits regulatory nod and approval by Boston Private shareholders.

The combined entity will have $17.7bn in private bank and wealth management assets under management.

SVB’s continuing expansion in the private banking and wealth management space

Boston Private offers integrated wealth management, trust and banking services to individuals, families, businesses and nonprofits.

The deal is said to enhance SVB’s private bank and wealth management offering, fortify its overall platform and ability to fully cater to the financial needs of its clients. ​

SVB Financial Group president and CEO Greg Becker said: “Our clients rely on us to help increase the probability of their success – both in their business and personal lives.

“Boston Private’s experienced and well-regarded team, robust service offering, and advanced technology platform will significantly bolster our private bank and wealth management capabilities and enhance our ability to offer products and services tailored to the needs of founders, executives and investors.”

Leveraging Boston Private’s product suite and its technology platform, SVB can expand its current wealth management solutions including complex strategies to manage concentrated stock positions.

The deal enables SVB to add tax planning, trust services, philanthropy and estate planning, while providing better digital experience to clients.

Commenting on the deal, Boston Private CEO Anthony DeChellis said: “Together, SVB and Boston Private will be well-positioned to grow and scale our business, leveraging SVB’s deep client relationships and broad reach across the innovation economy to capture a greater share of the wealth management market.”

As for Boston Private, the deal is said to offer its clients enhanced access to investment opportunities and access to SVB’s large balance sheet to support its borrowing requirements.

Both SVB and Boston Private serve clients in complementary major metropolitan markets.

In 2019, Boston Private opened a new office in downtown San Francisco.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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