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eToro Acquires Australian Investing App Spaceship for Up to $55 Million

Online investment platform eToro has announced its acquisition of Australian investing app Spaceship for up to AUD 80 million ($55 million). The deal will bolster eToro's presence in Australia and expand its long-term savings offerings globally. Spaceship, which has over 200,000 clients and manages more than AUD 1.5 billion ($1 billion) in assets, will continue to operate under its own brand. The companies plan to integrate their offerings, giving Spaceship clients access to eToro's investment tools and educational resources, while eToro users will be able to use Spaceship's superannuation and managed funds. This marks eToro's first major move into the long-term savings and investing space and signals further acquisitions in the future.

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