Wednesday, June 12, 2024
18.5 C
New York

Deutsche Börse set to take over wealthtech firm SimCorp

Deutsche Börse is set to finalize its €3.9 billion acquisition of SimCorp, a Danish investment management software company, with plans to delist SimCorp from the Copenhagen Stock Exchange.

Facts

  • Deutsche Börse has acquired 93.97% of SimCorp’s share capital and voting rights through a recent all-cash transaction.
  • The deal is scheduled to close on 29 September, and Deutsche Börse intends to buy out remaining minority shareholders, gaining complete control of SimCorp.
  • Deutsche Börse plans to delist SimCorp from Nasdaq Copenhagen and remove its shares from official listing.
  • The acquisition aims to merge SimCorp’s data with Deutsche Börse’s investment management solution, resulting from the consolidation of Qontigo and Institutional Shareholder Services.
  • This acquisition aligns with Deutsche Börse’s strategic goal to expand its investment management business and follows its previous takeover of Kneip Communication.
  • SimCorp’s partnership with Qontigo in September 2021 paved the way for this acquisition, enhancing the optimization of its investment management system Dimension.
  • Deutsche Börse’s CEO, Theodor Weimer, anticipates long-term growth, significant synergies, and increased recurring revenues through this acquisition and subsidiary consolidation.

Hot this week

Banking as a Service: Meaning, Examples, Benefits and Future

The push for open banking has led to a...

What is Fintech?

Fintech: A term used to refer to innovations in...

Best fintech blogs and websites

Fintech (financial technology) has been an interesting part of...

How to buy shares online

Buying shares online in India has come a long...

Is it worth investing in life insurance over 60?

Is it worth investing in life insurance over 60? As...

U.S. Bank taps Greenlight for family-focused money management tools

U.S. Bank Partners with Greenlight to Enhance Financial Literacy...

Finseta offloads non-trading subsidiary Capital Currencies to undisclosed buyer for £150,000

Summary of Finseta's Sale of Capital Currencies:Transaction Overview:...

Peru becomes first South American country to adopt NPCI’s UPI tech

Summary of BCRP and NPCI International Partnership:Partnership Overview:...

Beobank selects Viva to power new corporate payment solutions for SMEs in Belgium

Beobank and Viva Partnership - Key Points:Partnership Objective:...

Siri and Google Assistant look to generative AI for a new lease on life

There’s a lot riding on next week’s WWDC 2024...

Centenary Bank embarks on tech overhaul with Oracle Flexcube core banking system

Centenary Bank Technology Transformation - Key Points:Bank Overview:...

Related Articles

Popular Categories

spot_imgspot_img