Profile Software has acquired Euronext's asset and fund amangement services platform Centevo, as the pan-European exchange moves to divest non-core businesses.
Acquired by Euronext in 2019 as part of the acqusition of Oslo Børs, Stockholm-based Centevo serves more than 65 of the largest asset and fund managers and banks in the Nordics with sales reaching €5.5 mn in 2020,
Evangelos Angelides, Profile’s CEO says the acquisition is complementary to Profile's existing portfolio while presenting new sales opportunities in terms of territories and product enhancements.
"We are integrating with a leading company in the Nordics that has a loyal client base," he says. "We are very happy to be working with Centevo’s team on exchanging technology know-how and enriching and developing our solutions range, to deliver superior, best of market products to the wider region.”
As part of the transaction, Centevo and Euronext central securities depository VPS will maintain their existing relationships, avoiding any disruption to clients.
Terms of the transaction were undisclosed.