Objectway Acquires Wealth Management Software Solutions Business

Tom Burroughes

17 March 2014

, the information technology and software firm in the financial services industry, has acquired eXimius, a wealth management software solution provider, from Thomson Reuters.

The price of the transaction wasn’t disclosed.

Objectway said the purpose of the deal is to integrate eXimius’ software solutions for portfolio management into its own suite of wealth products for advisory, financial planning, analytics, mobility, and securities back office management. The merger also accelerates Objectway’s international expansion drive, it said in a statement.

The firm said it has signed more than 30 new eXimius client contracts in five international territories, across the full range of wealth management firms, from large private banks to independent wealth managers. A global distribution deal has also been signed with a major securities third party administrator.

“The valuable solutions of eXimius and its excellent reputation have helped us drive our international expansion and increase the footprint of Objectway’s Financial Suite products in new areas. Moreover, the adoption of our cloud-based solutions has been particularly encouraging,“ Luigi Marciano, president and chief executive of Objectway Group, said.

Objectway has business relationships with over 100 customers in 13 countries: Italy, Belgium, Netherlands, Luxembourg, France, Spain, Portugal, UK, Russia, Poland, Canada, the Caribbean, South Africa. The firm was founded in 1990.