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Futurimpresa SGR Invests in Objectway Financial Software, the Italian Leader in Software Solutions for Wealth Management, Private Banking, Mobile Banking and Asset Management
MILAN, December 5, 2012 /PRNewswire via COMTEX/ --
Futurimpresa SGR, the institutional private equity fund owned by the Chambers of Commerce of Milano, Bergamo, Brescia and Como, enters in the equity of Objectway Financial Software SpA, the italian leader and fast-growing European player, providing best-in-class software and services solutions for the financial industry.
Futurimpresa enters in the equity of Objectway, through its Finanza e Sviluppo Impresa investment fund, with a total investment of EUR 10 million, to be realized via new capital increase, that will allow the fund to reach up to 30% of the Company equity. New funds will be used to implement Objectway ambitious industrial plan, focused on an aggressive expansion in continental Europe and UK. The first capital increase has been dedicated to finance the acquisition of AMS Group, specialized in providing outsourcing services to Asset Management Companies and Financial Intermediaries with a turnover of approximately 15 million euro per year. Ashurst has acted as the legal advisor and Klecha & Co. as the financial advisor.
"Thanks to Futurimpresa contribution and support, we will strongly accelerate the implementation of a Pan-European business in wealth and investment management software and we will broaden our solutions in the fast-growing markets worldwide" comments Luigi Marciano, Objectway founder, CEO and major shareholder,
Objectway develops and markets Objectway Financial Suite (OFS), the innovative, proven and front-to-back software platform for wealth management, mobile banking, investment service and asset management. The platform offers a wide range of solutions for private banks, retail banks, asset managers, financial advisors, brokers, life insurance company and outsourcer. OFS provide customers a unique combination of complete business functionalities, agility, scalability, power, ease of adoption and satisfaction of use.
Celent (Oliver Wyman) market analysis ranks Objectway as one of the top 10 software providers for the Wealth Management sector in Europe. Objectway has been awarded by World Finance prestigious "Technology Award 2011" as the best provider in Retail Banking and Private Banking Technology in Western Europe.
Objectway group has revenues of more then 40 million per year; it employs 450 people and its client portfolio has reached more than 100 Italian and international financial institutions in France, Spain, Portugal and Ireland including Azimut, Allianz Bank, Barclays, CNP, Credit Suisse, Ing Direct, FinecoBank, MPS, Generali, UBI Banca.
SOURCE Objectway Financial Software
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UPDATED 5:33 AM EST - Mar 10, 2014
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