Objectway Acquires Leading German Core Banking Software Specialist Die Software Peter Fitzon
- 10.08.2021 09:50 am
Objectway, Global Top 100 fintech leader in the Digital Wealth and Asset Management software, announced today the acquisition of Die Software Peter Fitzon GmbH (DSW), a primary German provider of Core Banking solutions.
Founded in 1990, Objectway provides leading financial institutions with state-of-the-art technology to support their digital transformation programs, supplying front-to-back, intelligent and cloud-ready solutions that power up customer engagement, front-office productivity and back-office operational efficiency. Die Software is a leading provider of Core Banking solutions in German-speaking Europe, with more than 35 years of market presence. Its complete, open and modular platform fulfils the needs of prominent private banks, retail banks and central banks in the DACH area and in Luxembourg.
With this acquisition, Objectway complements and strengthens its Wealth and Asset Management offerings with a solid and comprehensive Core Banking platform. This creates an open, modular, end-to-end banking suite geared to support the digital transformation of private banks, retail banks, wealth and asset managers, further driving the future expansion in EMEA and globally.
As an EMEA leader in digital banking solutions, Objectway will now serve more than 200 clients in the region, boosting revenues in excess of €100 million.
“Die Software-team has done a fantastic job in developing a world-class banking platform with a loyal client base. Objectway places great importance on continuing to develop and evolve core banking platforms of its customers and to build long-term commercial relationships" said Luigi Marciano, Founder and CEO of the Objectway Group. "We aim at creating a unique and complete banking suite that combines Die Software solutions with Objectway's cutting-edge technologies in digital client management, investment advisory and portfolio management, to be deployed through Business Process as a Service (BPaaS) and Software as a Service (SaaS) models. We will also promote the global expansion of Die Software solutions by taking advantage of our presence in UK, Italy, Benelux and beyond”.
“We are delighted to be joining the Objectway Group, a solid and highly trusted company with a long-lasting track record in the industry. This will further help to enhance our client coverage and geographical footprint across EMEA" said Peter Fitzon, Die Software Founder. “With Objectway, we found a perfect new home to continue our growth path, providing our staff and clients peace of mind that our heritage will be in good hands in this ever changing environment".
“Our companies have a common DNA rooted in inherent culture of professionalism and drive for dependable perfection. We also believe in strong customer focus, delivering value and service quality in partnership with our clients. This makes our combined business highly promising for both firms, but also for our current and future customers, giving our talented and ambitious teams exciting goals and achievements to aspire for,” said Klaus Friese, Die Software Co-Owner and Managing Director. “The whole Die Software team is committed to driving forward our new group strategy and with such an established international player we will be able to support our development in the long-term guaranteeing continuity, stability and an exciting future of accelerated growth in new markets”.
Core banking solutions were built historically on reliability rather than open architectures. Digital banking, APIs and Cloud have created a significant shift in the way banking products are constructed. Financial institutions now need to address the imperatives underpinning next-generation core banking applications (in terms of scale, functionality, integration and the public cloud) to be able to process transactions in real time, release new features frequently and scale up their IT infrastructures. The combined Objectway and Die Software value proposition will respond to these new requirements, with the aim to become the fintech partner of choice for financial institutions.]
Objectway was advised by BNP Paribas, Giovannelli e Associati studio legale, Loeschner Rechtsanwaltsgesellschaft, Accuracy, Hilex – Avvocati associati, P+P Pöllath + Partners Rechtsanwälte und Steuerberater, Flick Gocke Schaumburg, and Tax Partner AG.
Die Software Peter Fitzon was advised by IPontix Corporate Finance and Witzel Erb Backu & Partner Rechtsanwälte.
BNL is acting as sole lead manager and bookrunner on the associated financing.