Axioma, a provider of advanced tools for risk management and portfolio construction, has agreed to purchase the regulatory-reporting and risk-reporting units of ConceptONE, a provider of back-office investment services.
As part of the acquisition, ConceptONE’s capabilities will be integrated into Axioma Risk, a next-generation risk-management platform for risk officers, portfolio managers, asset owners and consultants.
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This integration will allow customers to generate consistent views of both regulatory and internal risks across the full spectrum of the organization.
Following the deal, ConceptONE will continue to offer its solutions under the ConceptONE brand, in addition to being integrated into Axioma solutions.
Additionally, ConceptONE’s fund services business, which is not part of the deal with Axioma, will continue to operate as an independent firm.
Financial terms of the transaction have not been disclosed.
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By GlobalDataAxioma CEO Sebastian Ceria said: "This acquisition will enable Axioma to offer asset managers and hedge funds a global regulatory compliance solution that is part of a fully integrated enterprise-wide risk solution.
"With Axioma’s core strengths, we can quickly scale and fortify ConceptONE’s existing capabilities to support those regulatory demands."
ConceptONE chairman and co-founder Ken Grant said: "This transaction will help scale our offerings and reward our clients with the highest levels of service and continued investment in our products."
Axioma chairman William Guttman said: "Axioma’s growth is accelerating, and ConceptONE will help power the continued expansion of our risk and regulatory platforms, providing innovative new solutions for both our traditional fund and alternative investment clients."
