SVB to Acquire Boston Private

INVESTMENT MANAGEMENT DEALS BLOG

February 5, 2021

On January 4, 2021, SVB Financial Group announced it will acquire Boston Private Financial Holdings, Inc.

Under the terms of the transaction, SVB Financial Group (“SVB”) will acquire Boston Private Financial Holdings, Inc. (“Boston Private”). Boston Private shareholders will each receive $2.10 cash and 0.0228 shares of SVB common stock for each Boston Private share they own. The transaction’s consideration value is approximately $900 million based on SVB’s closing stock price of $387.83 on December 31, 2020. The deal is expected to close in the middle of 2021. Further terms of the deal were not disclosed.

SVB, based in Santa Clara, California (NASDAQ: SIVB), is the parent company of commercial bank Silicon Valley Bank. SVB’s businesses, including Silicon Valley Bank, offer commercial and private banking, private wealth management, asset management, brokerage and investment services, and funds management services to technology, life science and healthcare, and private equity and venture capital companies. As of December 31, 2020, SVB oversaw approximately $116 billion in assets.

Boston Private, based in Boston, Massachusetts (NASDAQ: BPFH), is the parent company of Boston Private Bank & Trust Company, a provider of integrated wealth management, and trust and banking services to individuals, families, businesses, and nonprofits. As of September 30, 2020, Boston Private’s combined private bank and wealth management assets under management were $17.7 billion.

To read the press release: Please Click Here.