Eminent financial institution Goldman Sachs recently completed the much-anticipated acquisition of GreenSky. The company announced that GreenSky stockholders got 0.03 shares of Goldman Sachs for each share of GreenSky.

GreenSky is one of the largest and highly reputed fintech platforms that provides technology to banks to make loans to consumers for home improvements. The company was founded in 2006 and had a strong network of 10,000 merchants. GreenSky by its all-stock transaction valued at $2.24 billion. Experts say that this acquisition will strengthen Goldman Sachs’ endeavor to create a compelling consumer banking platform. It will also improve Goldman Sachs’ ability to save, spend, borrow, and invest.

“We have been clear in our aspiration for Marcus to become the consumer banking platform of the future, and the acquisition of GreenSky advances this goal,” said David M. Solomon, Chairman and CEO of Goldman Sachs. “GreenSky and its talented team have built an impressive, cloud-native platform that will allow Marcus to reach a new and active set of merchants and customers and provide them with an expanding set of solutions. We welcome the GreenSky team to the Goldman Sachs family.”

Goldman Sachs is a globally renowned financial institution that delivers a wide range of services in domains like investment banking, securities, investment management, and consumer banking. Founded in 1869, this prestigious organization deals in financial transactions across all major financial power centers around the globe.