NeoXam, a provider of investment management software and services based in Paris, has acquired SmartCo, an enterprise data management software company.
NeoXam says the acquisition will help in its strategy to deliver “cost effective, highly configurable solutions to the global asset management community”.
The firm provides front, middle and back-office solutions dedicated to the asset management community and has grown through acquisition of software providers in France and internationally.
SmartCo, founded in 2004, has two flagship products, DataHub and IBOR, which are used to reinforce and streamline IT data architecture of large financial institutions.
Pascal Mougin, SmartCo’s president, says revenues had increased by 100% in two years, meaning SmartCo needed to partner with a larger organisation.
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