“SoFi Money has already integrated with Galileo’s payment platform and included several of its leading accounts and events API functionalities. According to anonymous sources who are familiar with the matter, the deal involved $75 million in cash, $250 million in seller financing debt, and $875 million in company stock.
SoFi Acquires Galileo – Explained
As per a company release, Social Finance, Inc., popularly known as SoFi, has acquired Galileo Financial Technologies in a $1.2 billion deal involving both cash and stock. The acquisition is subject to customary closing conditions. Galileo is expected to operate as an independent subsidiary of SoFi, with founder Clay Wilkes remaining as CEO…”