Aduno Group is expanding its stake in Swiss fintech start-up Contovista AG, Switzerland's leading provider of personal finance management (PFM) solutions. The existing interest will be increased to 70 per cent with effect from the beginning of August 2017. The Aduno Group, Swiss specialist in cashless payments, is acquiring a majority stake in Contovista. Following the successful launch of the PFM solution in 2015 and the acquisition of a stake of 14 per cent in the same year, Aduno Group is now increasing its stake in Contovista to a majority holding of 70 per cent. The founding shareholders will continue to hold 30 per cent of Contovista and will remain responsible for its operating activities. The parties have agreed to keep the purchase price confidential. With its data analytics, Contovista offers intelligent solutions that can be fully integrated into existing e-banking services and related mobile systems, thus ensuring a seamless client experience.
Aduno Group has been advised by Baker McKenzie's Zurich office. The team  consisted of Dr Beat M Barthold, partner M&A, Pascal Richard, partner Corporate and M&A and Dr Markus Winkler, associate Corporate and M&A.
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