Robinhood to buy Say Technologies for $140M, adding to retail investor services

  • Robinhood Markets (NASDAQ:HOOD) agrees to acquire Say Technologies, a communication platform that makes it easier for investors to exercise ownership rights, for $140M in an all-cash deal.
  • Say's proxy processing technology helps broker-dealers give customers access to their vote, and its Q&A platform helps retail investors participate in events like earnings by asking and "upvoting" questions, Robinhood said.
  • Robinhood stock slips 0.7% in premarket trading.
  • After the acquisition, Say will keep offering its proxy voting services and Q&A platform to existing customers. "And together, we’ll find new ways to expand what it means to be an investor through new products and experiences that democratize shareholder access," said Robinhood Chief Product Officer Aparna Chennapragada in a blog post.

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