The Swiss asset management sector is going through a period of regulatory change, with a new regime taking full effect at the start of the year.

A Norway-based financial data and analytics firm, Infront, has agreed to buy Swiss asset management software firm Assetmax. 

Infront said the deal “strengthens its product offering for wealth management customers across Europe.” The transaction, the financial terms of which were not disclosed, is expected to be completed by the end of September at the latest, subject to customary conditions. 

Assetmax is used by 70 customers – mainly independent asset managers and banks, as well as family offices.

The transaction is taking place at a time when the Swiss external asset management (EAM) industry is only a few months away from a final deadline for a new regulatory regime being laid down by the Swiss Financial Market Supervisory Authority ( FINMA). 

“We are very excited to welcome Assetmax to the Infront family. We look forward to working closely with its founders and wonderful team to continue their impressive organic growth, while developing best-in-class solutions for buy-side customers,” Zlatko Vucetic, chief executive of Infront, said.

Infront offers market data, news, analytics, and trading together with solutions for data feeds, portfolio management and advisory, and regulatory compliance and calculations. It serves more than 3,000 customers with more than 90,000 professional users.