eToro Expands Its Global Reach with AUD 80 Million Acquisition of Australian Broker Spaceship

by THEFUTURE.TEAM

September 29, 2024

In a strategic move to strengthen its presence in the Australian financial market, eToro, a global trading and investment platform, has announced the acquisition of Australian broker Spaceship for AUD 80 million. The deal, which is subject to regulatory approval, marks another significant step in eToro’s ongoing expansion efforts, as it seeks to solidify its position in the competitive landscape of financial technology.

Spaceship, an Australian fintech firm that focuses on superannuation and investment products, has built a reputation for offering simple and accessible investment solutions to a younger demographic. Launched in 2016, the company has aimed to modernise Australia’s investment approach, particularly in the realm of superannuation. Its acquisition by eToro, which boasts a community of over 32 million users globally, reflects a growing trend of consolidation in the fintech sector as major players seek to diversify their portfolios and capture new customer segments.

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Strengthening eToro’s Footprint in Australia

For eToro, this acquisition is not just about geographical expansion but also about gaining access to new markets and tapping into the unique superannuation market, which is estimated to be worth over AUD 3.5 trillion. By acquiring Spaceship, eToro is positioning itself to offer a broader range of financial services in a country where the demand for self-directed investment options is rapidly increasing.

Yoni Assia, CEO of eToro, remarked on the acquisition as a move that underscores the company’s commitment to providing diverse financial products and services to meet the evolving needs of investors worldwide. “This acquisition is aligned with our vision to empower people to grow their knowledge and wealth,” Assia stated, indicating that Spaceship’s integration would enable eToro to offer enhanced investment tools and products tailored to Australian investors.

The acquisition of Spaceship also signals a broader trend of consolidation within the fintech sector, where established firms are acquiring smaller players to scale their operations and capture market share. For eToro, this acquisition comes on the heels of other strategic moves aimed at broadening its global footprint, including previous partnerships and acquisitions in Europe and the United States.

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Only 1% Of Cyprus Farms Use Precision Farming Technologies

by THEFUTURE.TEAM

July 24, 2026

Cyprus remains one of the European Union’s least digitised agricultural economies, with just 1% of farms using precision farming technologies in 2023, according to Eurostat.

The findings come as the EU continues to encourage the adoption of digital tools aimed at improving agricultural productivity, efficiency and sustainability.

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Internet Access Expands, But Digital Uptake Lags

Internet access has improved across the bloc, although adoption remains uneven. Eurostat found that 43% of EU farms had internet access in 2023, with northern and central European countries leading the way.

Denmark, Germany, Slovakia, Latvia, the Czech Republic and Austria all reported internet access rates above 90%.

Greater connectivity, however, has not translated into widespread digital adoption. Farm management information systems, which help farmers manage day-to-day operations, were used by only about 11% of EU farms. France was a notable exception, with around 60% of farms using the technology.

Precision Farming Concentrated In Larger Operations

Robotics adoption also remained relatively limited, with only about 7% of EU farms using robotic technologies. Overall, around 18% of farms with utilised agricultural area employed at least one precision farming technology or practice in 2023.

These included robotics for plant protection, band spraying, variable-rate application, precision crop monitoring and soil analysis. Despite representing fewer than one in five farms, these holdings accounted for around 44% of the EU’s utilised agricultural area.

The figures suggest that precision farming remains concentrated among larger agricultural businesses, where investment in digital technologies is typically easier to support.

Cyprus Lags Behind EU Leaders

Luxembourg, Finland and Estonia recorded the highest shares of utilised agricultural area managed by farms using precision farming technologies, each exceeding 75%.

At the other end of the ranking, Cyprus recorded just 1%, while Greece and Romania reported between 10% and 15%. The results indicate that Cyprus remains at an early stage of digital adoption in agriculture, even as precision farming becomes more widespread across parts of the European Union.

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