Denmark-based Simcorp, one of the world’s leading providers of investment management software, acquires AIM Software, an Austrian provider of enterprise data management solutions.
Headquartered in Vienna, Austria, AIM Software counts around 75 employees plus 40 people as third-party service providers. According to its website it has offices also in New York, London, Luxembourg, Zurich and India.
Simcorp’s takeover of the company values its enterprise at €60 million, which is about four times its turnover last year.
Portfolios complement
Simcorp sees the acquisition as a strategic strengthening.
“Data management is an area of growing importance to buy side firms and increasingly central to any investment manager’s operational foundation. Also, it is often a key consideration in system selection processes,” Simcorp writes in its announcement of the deal.
“AIM Software’s market-leading 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,” it writes, adding that it expects cross-selling synergies from the complimentary products and shared target client base. Also, cost synergy should arise from the cut of an office.