JPMorgan Chase pays undisclosed sum for 600-employee Global Shares

JPMorgan Chase & Co. said Tuesday it agreed to pay an undisclosed sum for Global Shares Plc, a 600-employee share plan software company based in Cork, Ireland. Global Shares has been backed by private equity firm Motive Partners since 2018. Mary Callahan Erdoes, CEO, J.P. Morgan Asset & Wealth Management, led the deal for the bank. Global Shares CEO Tim Houstoun said the acquisition will allow the company to "accelerate the expansion of our business globally as well as the range of services we offer to our clients and their employees." Shares of JPMorgan Chase rose 1.8%, outpacing the 0.9% gain by the Dow Jones Industrial Average.

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