Objectway Financial Software Acquires 3i Infotech's Western Europe Business
Acquisition strengthens Objectway's wealth & investment management solutions and increases its expansion in the UK
bjectway Financial Software S.p.A.(http://www.objectway.com ), the leading software provider for the financial services industry in the EMEA region, today announced that it has signed a definitive agreement to acquire 3i Infotech Western Europe from 3i Infotech Group. 3i Infotech Western Europe is a leading provider of investment management software solutions to mid-market UK firms, with a 25 percent market share. The acquisition is expected to close today. Terms of the transaction were not disclosed.
Objectway Financial Software acquired 3i Infotech Western Europe for its strong presence in the UK, distinctive product offering, talented employees, and ability to deliver specialized client solutions. 3i Infotech Western Europe's products - which include rhymeSIGHT, Fiscal and Altimis - have been established in the UK market for more than 25 years and have 30 active clients. Objectway will continue to support the acquired products and will integrate them into the broader Objectway Financial Software product suite, which is designed to enable wealth and investment management institutions of all sizes to provide best-in-class services to all customer segments.
"This acquisition strongly reinforces our position and accelerates our commitment to expand within the UK market, the largest in EMEA," said Luigi Marciano, founder and CEO of Objectway Group. "With the addition of 3i Infotech's platforms, we'll be able to add a set of core solutions to Objectway Financial Software's product portfolio for the UK. Objectway will actively invest in the 3i Infotech product offering to give long-term support to the customer base. The combined offering will drive our growth because it represents an excellent value proposition for the wealth and investment management industry in the UK."
Objectway's legal advisors were Matteo Delucchi, partner at Giovannelli and Associati Law Firm, and Angar Porthun, partner at Porthun & Partner LLP.