Financial solutions provider Profile Software has reached an agreement to acquire 100 per cent of Euronext Centevo, a specialised provider of asset and fund management solutions.
The agreement, which was signed in Sweden on 19 March, was a result of Euronext’s decision to divest from a non-core activity.
Headquartered in Stockholm, Euronext Centevo serves more than 65 of the largest asset and fund managers and banks in the Nordics (Norway, Sweden Denmark and Finland) with sales reaching €5.5 million in 2020, according to Profile Software.
Euronext Centevo’s solutions cover the areas of asset management, fund management, trust management and family office, while offering application programming interface connection gateways to large local banks.
Profile Software says these services are complementary solutions to its portfolio while new sales opportunities are created both in terms of territories and product enhancements.
Evangelos Angelides, Profile Software’s CEO, comments: “We remain fully committed to our vision to expand our business offering with more specialised solutions thus making Profile a top tier European financial software company. The financial services market in the Nordics has always been a strategic priority of ours due to its long tradition in the areas of asset and fund management.”
Leif Arnold Thomas, Euronext Centevo’s CEO, says: “Out of this deal, we see a lot of complementarities and synergies for the benefit of our clients. As part of the transaction, Centevo and Euronext VPS will maintain their existing relationships, avoiding any disruptions to Centevo’s clients.”
