SimCorp has signed an agreement to acquire all shares in AIM Holding SCA and its subsidiaries for a total enterprise value of €60 million.
According to SimCorp, the acquisition will strengthen SimCorp’s position and competitiveness in the market.
Additionally, AIM Software’s solution will provide SimCorp with an even stronger value proposition, adding new capabilities in an area naturally linked to its existing front-to-back offering, Simcorp stated.
Simcorp expects to realise cross-selling synergies from the complimentary products and shared target client base, as well as cost synergies, such as combining the two firm’s office locations.
Following the acquisition, AIM Software will be fully integrated into SimCorp and its product GAIN will be renamed SimCorp Gain.
It will then become a core component of SimCorp’s future data management offering, SimCorp revealed.
SimCorp also noted that it will complete its “Safe Harbour” share buy-back programme of €12.5 initiated in connection with the release of the 2018 annual report but does not plan to initiate a new programme in 2019 due to the acquisition.
The closing of the acquisition is expected to be around 1 August this year, subject to certain conditions.
Gayatri Raman, CEO of AIM Software, commented: “SimCorp’s global market reach, commitment to its employees, along with substantial investments in R&D, will allow us to continue to deliver innovative data management solutions to our clients.”
Klaus Holse, CEO of SimCorp, cited: “The combination of AIM’s data management capabilities and SimCorp’s integrated front-to-back, multi-asset investment solution will allow us to provide asset managers and asset owners alike with an even more comprehensive end-to-end offering, further strengthening our leadership position in an ever-evolving industry.”
