Milan
30 June 2017
Reporter: Katherine Brown

SimCorp makes €35 million software acquisition


SimCorp has acquired APL Italiana, a provider of investment and portfolio management software for the Italian insurance market, for €35 million, including €10 million in SimCorp shares.

The purchase price will be adjusted upwards by an expected €3 million by closing of the agreement.

In 2016, APL Italiana generated €16.6 million in revenue and earnings before interest and taxes of €4.8 million.

APL Italiana will be renamed SimCorp Italiana following the purchase, and will be the basis of SimCorp’s new Italian market unit. APL Italiana’s software solution will be renamed SimCorp Sofia.

Klaus Holse, CEO of SimCorp, said: “Following the recent client wins in Italy and Spain, the acquisition of APL Italiana helps us further establish our position in Southern Europe. In addition to a strong development organisation, APL Italiana has a well-developed consulting and services business.”

“This, and more than 100 new employees with IT and asset management knowledge, will be an asset for us, when further building our position in this and other markets. All in all, I see APL Italiana as a perfect match for us and I am proud to welcome their employees and clients to the SimCorp family.”

The purchase is expected to be active on 1 July with the closing of the agreement planned for 1 August.

The SimCorp shares that are part of the purchase price will be based on a lock-up restriction and will be released to APL Italiana’s sellers in three annual instalments. The last shares will be released after SimCorp’s 2019 results.

SimCorp plans to issue new shares totalling €10 million in connection with the purchase.

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Pension fund mandate for BNP Paribas
21 September 2017 | London | Reporter: Jenna Lomax
The West Sussex Pension Fund is the fifth appointment BNP Paribas has secured under the Local Government Pension Schemes (LGPS) National Framework Agreement
IHS Markit names new COO for thinkFolio
21 September 2017 | London | Reporter: Jenna Lomax
Cunningham will lead thinkFolio’s product management, services, support and managed service offering
AcadiaSoft expands user base for IM compliance
21 September 2017 | Massachusetts | Reporter: Drew Nicol
The second phase of the IM rules went live on 1 September under the regulatory framework of BCBS and IOSCO
SIX: Speedy settlement key in collateral management
21 September 2017 | London | Reporter: Stephanie Palmer
Real-time settlement is the most important consideration when choosing a new collateral management provider, according to research from SIX Securities Services
FCA takes pragmatic approach to MiFID II deadline
21 September 2017 | London | Reporter: Drew Nicol
The UK’s financial conduct authority has indicated it will accept a soft roll out of the second Markets in Financial Instruments Directive in January
Trade Informatics releases Peer Analysis tool
20 September 2017 | New York | Reporter: Jenna Lomax
The new addition will provide asset managers with tools to analyse how they compete with other money managers
BNP Paribas becomes first French OTC Clearing member
20 September 2017 | Hong Kong | Reporter: Barney Dixon
BNP Paribas has joined OTC Clearing Hong Kong, as the clearinghouse’s 17th member, and the first from France
More news