Blender Financial Technologies (TASE:BLND) agreed to acquire a 77% stake in Seimos Kredito Unija for NIS 18 million on January 16, 2022. Seimos Kredito Unija manages deposits of up to NIS 124 million and has about NIS 9 million in equity. This acquisition is subject to the completion of a satisfactory full due diligence and the conversion of the credit union license into a specialized bank.

The transaction is expected to close in second quarter of 2022.