IBS Journal February 2015
HP acquisition of ZIS
In September 2014, HP acquired the assets of ZIS, the captive IT subsidiary of Austria-based Hypo Alpe Adria Bank. These assets include a hosting facility which currently runs Temenos’ T24 core banking solution for the bank in the Balkans, and HP’s idea is to offer this hosted version of T24 to other banks in Central and Eastern Europe. ZIS’s 100 staff have built up expertise having implemented T24 for four sites at Hypo Alpe Adria, in Serbia, Montenegro and twice in Bosnia. There is potential for T24 to be implemented in Slovenia and Croatia, though this depends on what happens to the bank, which is cur- rently owned by the Austrian government. The bank was also one of the pioneers of Temenos’ Arrangement Architecture module, for tailoring products within T24. HP now intends to offer T24 on a deployed basis for larger banks in the region and on a hosted basis for smaller ones. It plans to add some of its own
applications around T24 as well, Werner Dorfmeister, HP’s CTO in the region, told IBS. There have only been two sales of T24 in Central and Eastern Europe since 2010, and both of these were in Moldova.
SS&C acquisition of DST
US-based SS&C, an investment management software supplier, acquired its rival, DST Global Solutions, in December 2014. SS&C paid $95 million for 390 staff, a presence in EMEA and Asia Pacific, and two buy-side investment solutions, Anova and HiPortfolio. HiPortfolio, an older front-to-back solution, made up 80 per cent of DST’s revenue (of $65 million in 2013), and Anova is a newer middle office platform. While SS&C has said it won’t sunset either sys- tem, there is overlap with some of its existing solutions, so how this will be managed will become clear in 2015. SS&C wants to take the two products to the US, as 90 per cent of DST’s business was in Europe and Asia, the supplier said (see p17 for more details).
Tech Mahindra acquisition of Sofgen
Tech Mahindra, the India-based IT services company, is suddenly a player in the core banking market, having acquired Switzerland-based Sofgen. Sofgen, which has 530 staff (mostly in Manila, Chennai and Singapore), booked $45 million in revenue last year as an implementation partner of core system sup- pliers Temenos and Avaloq. Tech Mahindra is already a $3.4 billion company and the fifth biggest Indian IT services player, but only about ten per cent of its business is in the banking vertical. As for Sofgen, it sees the acquisition as a way of reaching tier one clients which were previously beyond its capability (see p16 for more details).
Simcorp acquisition of Equipos
Denmark-based Simcorp, which sells the Dimension investment management solution, acquired a London-based reporting software developer, Equipos, in spring 2014. Simcorp already owned 20 per cent of the equity in the target company. The two firms had been partners for a decade, with Equipos’ Coric Client Communications Suite sold by Simcorp as the Dimension Report Book Manager. Equipos cost just €10 million but Simcorp believes the deal will help it build its share of the global reporting market. It now offers the platform, branded as Simcorp Coric, as a standalone offering or as part of Dimen- sion. Before the acquisition there were 67 users of Coric, a number of which were also Simcorp customers in other areas. Simcorp appointed Klaus Ander- sen, who had headed its London-based operations since 2008, as managing director of the new subsidiary.
© IBS Intelligence 2015
www.ibsintelligence.com 51
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56
