San Francisco-based Charles Schwab has announced that it is purchasing technology capabilities from now-defunct Motif Investing in an all-cash transaction of an undisclosed amount.

The acquisition, announced on Thursday, will include all of Motif’s technology and intellectual property, including its patents, algorithms and source code.

“As a company with a deep history of innovating to improve the financial lives of investors, we are thrilled to bring transformative technology to Schwab to help our clients navigate their investment needs in a more personal way,” said Neesha Hathi, EVP and chief digital officer at Schwab, in released comments. “We continue to see an increasing number of clients interested in customizing their investing experience to suit their values, objectives and personal circumstances. We intend to leverage Motif’s platform to build on Schwab’s existing capabilities and help accelerate our development of thematic and direct indexing solutions for Schwab’s retail investors and RIA clients – all with the sophisticated digital experience our clients expect from Schwab.”

Motif, which closed operations this month, was an investment platform that allowed users to invest in pre-made or custom-made baskets of investments, called motifs, and share their own custom motifs with other  users. The service was an early adoptee of fractional share trading and personalized investments across a digital platform.

As part of the deal, Motif founder and CEO Hardeep Walia will join Schwab, as well as a majority of Motif’s development and investment personnel.

Motif’s  broker-dealer, RIA, accounts and assets were purchased by Folio Investments last month.

Schwab recently rolled out a Motif-like service of its own, Schwab Stock Slices, which will also offer fractional shares and customizable baskets of investments. In its announcement, it hints that  the addition of Motif’s technology and personnel bring it closer to offering direct indexing capabilities to its customers.

The Schwab-Motif transaction is expected to close in the middle of 2020.