JP Morgan has agreed to acquire Global Shares, a cloud-based provider of share plan management software.

Global Shares’ covers the entire company lifecycle, and caters to corporates worldwide. The deal – the terms of which have not been disclosed – is subject to regulatory approvals and closing. The transaction is expected to close in the second half of 2022.

Founded in 2005, Global Shares has a client base of over 600 corporate clients that range from early-stage start-ups to mature multinational public corporations.

The firm has nearly $200 billion in assets under administration across 650,000 corporate employee participants. It operates with an experienced team of more than 600 employees headquartered in Cork, Ireland and 16 further locations across Europe, the Middle East & Africa, North America and Asia Pacific. Since July 2018, Global Shares has been partnered with specialist fintech investor, Motive Partners.

“The addition of Global Shares is complementary across our entire JP Morgan franchise from new client acquisition for our Global Private Bank and US Wealth Management businesses to providing new, innovative capabilities to private and public companies globally and helping their employees manage their wealth,” said Mary Callahan Erdoes, chief executive JP Morgan Asset & Wealth Management.

“We are tremendously excited to partner with J.P. Morgan and to continue on our journey of being a leading player in equity incentive services. Together, we will accelerate the expansion of our business globally as well as the range of services we offer to our clients and their employees. This is a great news for both our clients and all of our employees,” added Tim Houstoun, chief executive, Global Shares.