Spanish bank BBVA has completed the deal signed on 20 February to acquire Portland banking group Simple Finance Technology for $117m.

BBVA now plans to double its employee count, with an addition of over 100 Portland employees in 2014 including positions for software engineers, accountants and customer relations specialists.

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The move is part of BBVA’s plan revealed during the agreement signing to expand Simple’s Portland operations in the year.

Simple Finance Technology spokeswoman Krista Berlincourt was quoted by The Oregonian as saying that they will more than double this year.

According to Simple Finance, their online banking services were successful with clients, but they cannot handle growth at current Pearl District offices.

Berlincourt said the company will seek new quarters to replicate its current environment, which mixes departments in a communal space.

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"We don’t do little offices. We’re all in a mass loft," Berlincourt added.