NeoXam Acquires SmartCo
- M&A Deals
- 03.06.2015 01:00 am
NeoXam, a leading provider of investment management software and services, has acquired SmartCo, an innovative enterprise data management software company, advancing NeoXam’s strategy to deliver cost effective, highly configurable solutions to the global asset management community. NeoXam provides front, middle and back-office solutions dedicated to the asset management community and has been growing through the acquisition of the best value-added software providers in France and internationally. SmartCo’s flagship products DataHub and IBOR are viewed in European and North-American markets as key solutions to reinforce and streamline IT data architecture of large financial institutions. Beyond the economic relevance of this operation, SmartCo’s solutions will perfectly complement NeoXam’s offerings to the asset managers worldwide.
Pascal Mougin, SmartCo’s President, comments “We are very happy to become part of NeoXam. This acquisition is perfectly aligned with SmartCo’s technology platform and business functionality strategy. After revenues had increased by 100% in two years, our company needed to partner with a larger organization that can accelerate our delivery of best-in-class solutions and has the capacity to achieve global ambitions required by our tier 1 clients today. To build on and expand our sales successes in the USA, we need an offensive sales strategy that can now be fully executed with NeoXam.”
Serge Delpla, NeoXam’s President, adds “Among the many motivations behind this acquisition, it is above all the synergies of both flexible end user offerings and scalable technology platforms that has been the most exciting. SmartCo will become our reference technical platform and will provide a new coherence in the IT systems we are building with our clients and partners. Around NX Manager or NX Tracker and also NX Compliance and NX GP3, SmartCo’s DataHub and IBOR will federate and streamline all the IT financial infrastructure of our clients. This expanded business spectrum of best-of-breed investment operations applications provide a compelling alternative suite of client driven, cost-efficient and configurable solutions that compete directly against the monolithic offerings that some software providers are trying to impose on the market. We are looking forward to promoting this offering worldwide especially in Asia and in the United States where SmartCo’s already strong, established presence will reinforce us to a considerable extent. Lastly, Pascal will join NeoXam’s Executive Committee, thereby actively contributing to the success of this endeavor which started 18 months ago.”