IBS Journal February 2015
Objectway acquisition of 3i Infotech
Italy-based Objectway took over the UK business of Indian supplier 3i Infotech in December 2014. The business consists of investment management soft- ware under the brand of Rhymesight, plus an older system, Quasar. 3i Infotech had acquired a number of businesses from around 2006, but overextended itself and was forced to restructure its debts in 2012. The acquisition of Rhyme Systems in October 2006 was one of the earlier ones, and 3i Infotech repeatedly planned to market Rhymesight abroad, even up to 2013, by which time the company’s creditors had installed new management. The expan- sion never happened though, and now it’s up to Objectway to see what it can do with the business. Objectway has a different proposition in mind for Rhymesight, with a focus on supporting the 30-odd existing UK customers. There is also a newer
development underway at Rhyme Systems known as Illumas, which is scheduled for launch in February this year (see p18 for more details). Objectway wants this to be the new flagship offering and plans to integrate it with Eximius, a front-end which Objectway acquired from Thomson Reuters in 2012.
FICO acquisition of Tonbeller
FICO, a financial data analytics company based in the US, purchased Tonbeller, a provider of fraud detection and governance, risk and compliance solu- tions which is headquartered in Germany earlier this month. FICO is moving into financial crime and compliance software for the first time with the acqui- sition, and is looking to capitalise on growing demand from chief risk and compliance officers, dealing with a wider range of risks than ever before. The price of Tonbeller has not been made public. Hampleton Partners, an M&A advisory firm based in London, consulted on the sale of Tonbeller.
Reed Elsevier acquisition of Fircosoft
Reed Elsevier, which already owned the payment system supplier Accuity, bought France-based sanctions screening software firm Fircosoft in late 2014. Fircosoft has been joined to Accuity but resides as a standalone business under the Accuity umbrella. The aim was to bring together the software from the two companies to create a more comprehensive offering. Before the acquisition Fircosoft had been chosen as a partner by Swift to launch the Swift Sanc- tions Screening Service, and Reed Elsevier stated that it would continue to support this initiative. Fircosoft, which had 2000 customers in 85 countries, also had a partnership with Misys.
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© IBS Intelligence 2015
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