Financial solutions provider Profile Software has acquired Euronext Centevo, a specialised provider of Asset and Fund Management solutions.
Profile has reached to an agreement with Euronext Nordics Holdings AS to acquire 100 per cent of Euronext Centevo, as a result of Euronext’s decision to divest from a non-core activity.
Euronext Centevo dates back to 1991 and is headquartered in Stockholm, Sweden with a fully operational branch in Oslo, Norway. It serves more than 65 of the largest Asset and Fund Managers and Banks in the Nordics (Norway, Sweden Denmark and Finland) with sales reaching EUR5.5 million in 2020, while it employs 45 specialists spread across the two locations. Its solutions cover the areas of Asset Management, Fund Management, Trust Management and Family Office, whilst offering powerful API connection gateways to large local Banks. These are complementary solutions to Profile’s portfolio while new sales opportunities are created both in terms of territories and product enhancements.
Evangelos Angelides, Profile’s CEO, says: “We remain fully committed to our vision to expand our business offering with more specialised solutions thus making Profile a top tier European financial software company. The financial services market in the Nordics has always been a strategic priority of ours due to its long tradition in the areas of asset and fund management. Today, we are integrating with a leading company in the Nordics that has a loyal client base. We would like to thank Euronext for this transaction which also initiates the future co-operation between Euronext and Profile. Furthermore, 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.”
Leif Arnold Thomas, Euronext Centevo’s CEO, says: “We are confident that Profile Software will be a strong and active owner of Centevo to deliver the best to our customers. They are committed to Centevo`s Nordic strategy and acknowledges the importance of local competence and local presence to succeed in a fast-moving industry. Centevo will now be a part of a European provider of Banking and Investment Management solutions which delivers top-tier technological innovation, award-winning and flexible solutions developed with the highest standards. Out of this deal, we see a lot of complementarities and synergies for the benefit of our clients. As part of the transaction, Centevo and Euronext VPS will maintain their existing relationships, avoiding any disruptions to Centevo’s clients.”
Founded in 1990, Profile Software is an international financial solutions provider with presence in 40 countries, delivering market-proven solutions to the Investment Management and Banking industries. Profile Software is recognised as an established and trusted partner. Profile Software is listed on the Athens Stock Exchange and is investing in strategic M&As aiming at successfully meeting its business objectives.
