Hemisphere Partners is proud to have served as the exclusive M&A advisor to Telescope in its acquisition by Purple Group Limited (JSE: PPE), a leading South African technology company and the force behind EasyEquities, one of the fastest-growing retail investment platforms in the world.
This transaction brings together Telescope’s cutting-edge AI technology, which already reaches more than 3 million investors across 7 countries and 13 languages through platforms such as the IG Group and CMC Markets, with Purple Group’s extensive retail investing ecosystem.
The deal, valued at up to US$10.75 million (approximately R175 million), marks a new era for two companies that have worked together since Telescope’s founding. AI Baskets, one tool in Telescope’s suite, has been live with EasyEquities clients since 2024 and has been used to build more than 5,000 baskets.
The acquisition brings the full Telescope suite and the team behind it into Purple Group for deployment across the group’s entire product stack, including retail investing, retirement funds, fractional property, and crypto.
Telescope founder Luc Pettett will join Purple Group as Chief AI Officer and will lead AI initiatives across the Group, while continuing to lead Telescope as CEO.
This is not the first time we have worked with Luc. Daniel Bernstein and Andy Hill also represented him in the sale of Punters.com.au to News Corporation.
Congratulations to Luc Pettett and the Telescope team for this outstanding achievement, and to Purple Group for its commitment to advancing AI-powered investing.
Read more here: https://telescope.co/blog/telescope-joins-purple-group/