OBJECTWAY ACQUIRES ALGORFIN FROM UNIONE FIDUCIARIA
This feature is upgradeable
For End Users
You can activate this feature and other links for ALL VENDORS with a VendorMatch Premium subscription. Additionally you can gain access to an increased depth of data, summary reports, RFX reports (detailed completed RFIs - available to financial institutions only) and comparison grids. Please click here for more information on Premium features.
For Vendors
Vendors can activate their links and gain access to analytics by upgrading to VendorMatch PRO. Please click here for more information
Ask an Analyst
Ask an analyst is the ability to communicate with one of our analysts about this vendor, system or genre of solution.
Survey Summary
The Survey Summary provides a full download of the vendor profile, the solution profile and all survey response information uploaded by the vendor in connection with their VendorMatch directory listing. Note that the directory listing requires only check box responses where the RFX response is more comprehensive.
To learn more about subscribing to our service options, please contact us here
This feature is upgradeable
For End Users
You can activate this feature and other links for ALL VENDORS with a VendorMatch Premium subscription. Additionally you can gain access to an increased depth of data, summary reports, RFX reports (detailed completed RFIs - available to financial institutions only) and comparison grids. Please click here for more information on Premium features.
For Vendors
Vendors can activate their links and gain access to analytics by upgrading to VendorMatch PRO. Please click here for more information
Ask an Analyst
Ask an analyst is the ability to communicate with one of our analysts about this vendor, system or genre of solution.
Survey Summary
The Survey Summary provides a full download of the vendor profile, the solution profile and all survey response information uploaded by the vendor in connection with their VendorMatch directory listing. Note that the directory listing requires only check box responses where the RFX response is more comprehensive.
To learn more about subscribing to our service options, please contact us here
The Group strengthens the leadership in the asset management segment
Objectway, the leading Fintech group in Italy and one of the premier European players in software and services for the wealth, investment and asset management industries, acquired Algorfin, the software and services division of Unione Fiduciaria S.p.A.
Algorfin is specialised in IT and administrative outsourcing services for Asset Management Companies, Custodian Banks and other financial operators, through the Archimede, Diogene and Archimede Governance software platforms.
Archimede is the leading solution for the complete management of open-end and closed-end investment funds, including investors’ management, NAV calculation, compliance and any type of regulatory compliance required. Diogene supports the management of all the activities of a Custodian in the fund management area. Archimede Governance allows Asset Management Companies to perform all the checks required by the European UCITS V regulations. Moreover, Algorfin provides administrative services for back-office management and accounting to some of the premier Italian Asset Management Companies.
A team of over 100 Milan-based, highly specialised professionals from Algorfin join the Objectway Group, which reaches approximately €75 million of annual consolidated revenues following this latest acquisition.
In addition to its core business, Unione Fiduciaria will continue to carry out IT and administrative services for trust companies and to provide its own application software to support control functions and whistleblowing managers.
"This is a significant acquisition for our Group - declared Luigi Marciano, CEO of Objectway - as it consolidates our position as leader in the Italian market for Banks, Asset Management companies, Brokers and Custodian Banks, with a comprehensive offer that covers their application needs and opens new growth opportunities in Italy and other markets."
"Unione Fiduciaria has identified in Objectway a solid and reliable partner to pass the baton for the development of the Algorfin business. With this sale, the process of focusing on fiduciary activity, the company's core business, continues and accelerates. This operation allows Unione Fiduciaria to invest additional resources for expansion and thus continue a path already started several years ago," commented Filippo Cappio, Managing Director of Unione Fiduciaria.
Objectway partially financed the operation, with the support of UBI Banca and Unicredit, as lending banks, and with the assistance of Marco Carbonara from Hi.lex and of Simmons & Simmons, as legal advisors. For the execution of the deal, Objectway was assisted by: UBI Banca, as financial advisor; Giovannelli e Associati, as legal advisor; Russo De Rosa Associati, as tax advisor; Accuracy for carrying out the financial due diligence. Unione Fiduciaria was assisted by Synpulse, as strategic advisor; by KPMG Advisory as financial advisor, KPMG for the vendor due diligence, and by Grimaldi as legal advisor.