- This deal follows ieDigital’s acquisition of Connect FSS in October 2023
- Parabellum is the family office of international growth investor Rami Cassis
- ieDigital is a digital banking software developer
ieDigital, a portfolio company of Parabellum Investments, has acquired Abaka, an AI fintech software provider.
Abaka, based in London, uses machine learning and behavioural segmentation software to predict which products – such as banking products, savings accounts or retirement solutions – are the most likely to be bought by financial services consumers.
This transaction follows ieDigital’s acquisition of Connect FSS in October 2023.
ieDigital, Abaka and Connect FSS will form a new group under ieDigital’s CEO Jerry Young. The three companies will retain their separate brand names in their respective markets, with separate websites.
London-headquartered Parabellum is the family office of international growth investor Rami Cassis. Cassis has been both a majority and minority investor in ieDigital since around 2010.
ieDigital is a digital banking software developer based in London.
No financial details of the transaction were disclosed.