SimCorp A/S , a leading provider of investment management solutions and services for the global financial services industry, announced today that it had acquired Equipos Ltd ., an award-winning reporting software developer .
The EUR 10m acquisition of the UK-based company and its subsequent full integration into the SimCorp organization will enhance and support SimCorp’s strategy of growing the business based on its single product platform – SimCorp Dimension. Prior to the full acquisition, SimCorp held a 20% stake in the private limited company’s share capital.
Equipos’ mainstay product is the award-winning Equipos Coric™ Client Communications Suite. [1] The product empowers investment management firms to improve client service and enrich client experience through effective and informative reporting. At the same time, it reduces operational risk and costs. Business users can create and modify client reports with ease, speed, and accuracy.
Backed by a focused client sales methodology, Coric is a market-leading product with a proven track record of generating organic revenue growth. Since 2008, the firm’s revenue and staffing have grown strongly.
"The acquisition advances our product strategy of continuously building on SimCorp Dimension’s integrated portfolio of technical and business applications, while also providing selected applications as standalone solutions to leading investment managers," states Klaus Holse, CEO of SimCorp. "We’re delighted that we can now put all of our experience behind Coric and fully benefit from the knowledge of our new colleagues at Equipos.”
“Coric enables investment managers to present increasingly complex portfolio data to their clients quickly, professionally, and cost-effectively,” explains Holse, adding: “That makes it a perfect match to our ambition of constantly providing up-to-date and modern solutions spanning the entire investment management value chain.“
"We’re very excited at the prospect of becoming part of this expanding and innovative financial software company," comments Simon Still, Chairman of Equipos. "The long-proven integration with SimCorp Dimension, as well as the obvious potential for the reporting solution as a standalone system, leverages the already great potential Coric has to increase penetration within the investment management vertical on a global scale. We’re happy that we have now transitioned our close partnership to become fully integrated into SimCorp’s strong organization.”
According to SimCorp CTO Georg Hetrodt: “The acquisition both in terms of cutting-edge technology and functionality represents an opportunity to grow our market share in the reporting domain. At the same time, I remain very mindful of the critical importance of us maintaining all of our new and old existing client relationships. We will leverage Coric’s strengths as the basis for satisfying their ongoing and growing needs within reporting.”
“A very important part of my future role will be to ensure that current users continue to be looked after in the way that they would expect, and that the quality of service and delivery is consistently high as SimCorp expands its market share,” adds Hetrodt.
This press release extends on Company Announcement No. 10 of today.
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[1] Equipos Coric claimed the 2013 Buy-Side Technology Client Reporting Platform of the Year Award, making Waters Magazine history as the first company to win this prestigious award three times in consecutive years. Equipos has achieved significant award success with its Coric Client Communications Suite, including:
- Best Client Reporting Solution 2013 – Systems in the City
- Best Front Office Solution 2013 – WealthBriefing Europe, awarded for Coric’s outstanding contribution to enriching client experience
- Best Client Reporting Platform 2011 & 2012 – Buy-Side Technology Awards, awarded for excellence in client reporting technology
- Best Client Reporting Initiative – American Financial Technology Award, won by Equipos client Northern Trust for the quality and effectiveness of the firm’s Coric-based solution.
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Enquiries regarding this press release should be addressed to: Lars Bjørn Falkenberg, Senior Vice President, Group Marketing & Communications, SimCorp A/S, +45 3544 8710, +45 2630 0127 Klaus Holse, Chief Executive Officer, SimCorp A/S (+45 3544 8802, +45 2326 0000) Thomas Johansen, Chief Financial Officer, SimCorp A/S (+45 3544 6858, +45 2811 3828)
About Equipos Equipos is a leading international supplier of specialist document management, business process management, and client reporting solutions for investment and wealth management firms. Its flagship product is the multi-award-winning Equipos Coric™ Client Communications Suite. Founded in 1999, the UK-based private limited company employs around 50 with office locations in London, UK, Boston, USA, Toronto, Canada, as well as a technology center in Wolverhampton, UK. For more information about Equipos, please visit www.equiposgroup.com .
About SimCorp SimCorp provides investment and portfolio management software and services to the world’s leading investment managers, asset managers, fund managers, fund administrators, pension funds, insurance funds, and wealth managers. SimCorp’s world-class software provides global financial organizations with the tools they need to mitigate risk, reduce cost, and enable growth. Founded in 1971, SimCorp is a global company, regionally covering all of Europe, North America, and Asia Pacific. Listed on the NASDAQ OMX Nordic, SimCorp is dedicated to supporting the global investment management industry, its clients, and its investors. For more information about SimCorp, please visit www.simcorp.com .
