French asset management company Amundi has acquired aixigo, a Germany-based provider of software solutions for financial institutions, for €149m.
Established in 1999, aixigo employs 150 people and serves more than 20 clients, including international financial institutions managing more than €1trn in assets.
It offers software services to nearly around 60,000 advisors, supporting client onboarding, portfolio management, order placement, and reporting.
The German company developed its platform entirely based on API, allowing quick deployment of new services into existing IT infrastructures of banks and financial institutions.
With the acquisition, aixigo’s tools will become a part of Amundi Technology offering to its clients across the entire savings value chain.
Amundi said the transaction, which is in line with its strategy plan, will create significant value, based on business growth potential and revenue and cost synergies.
Aixigo CEO Arnaud Picut said: “Joining Amundi Technology presents aixigo with a unique opportunity to expand our service offerings and leverage Amundi’s expertise, allowing us to become the undisputed European leader before gradually extending our reach into Asia, a vision that perfectly aligns with our values and ambitions.
“It is also an opportunity to thank Urs Ehrismann, Founder of fronttrail Equity Partners that has accompanied aixigo as an equity investor over the past six years, enabling to build a successful European wealthtech platform provider.”
According to Amundi, digital technology has become a key driver in managing customer relations for wealth managers, and the market is growing significantly.
The French asset manager is already operating in the digital technology market through its Amundi Technology business and Alto solution.
Amundi Technology has enhanced its offering, providing technological solutions for portfolio management, employee savings and retirement, wealth management and asset servicing.
Its diversified client base includes more than 60 clients, including banks, private banks, pension funds, insurers, fund custodians and asset managers in Europe and Asia.
The acquisition is expected to advance Amundi’s client and geographical coverage in the digital technology market through aixigo’s client base in Germany, Switzerland, and the UK.
Amundi CEO Valérie Baudson said: “Institutions that are distributing saving products are increasingly looking for solutions and external partners that enable them to improve their operational efficiency, and enhance the quality, the speed and the personalisation of the advice, services and products they offer.
“To address these needs, Amundi has built a range of services and a technological platform that will be further strengthened with aixigo.
“With the addition of new expertise, which has already been adopted and recognised by leading financial firms, we will continue to roll out new innovative services, and play an active part in the developments of the financial advisory and wealth management sector.”
Earlier this year, Amundi agreed to acquire Alpha Associates, a Switzerland-based investment manager and adviser in private equity, private debt, and infrastructure.
