French fintech provider Linedata has agreed to acquire Quality Risk Management & Operations (QRMO), a Hong Kong-based independent risk management and operations outsourcing company for the investment industry, for an undisclosed sum.

At present, QRMO services over 30 hedge funds, wealth management firms and retail funds managing assets of $5bn. The firm employs 30 staff.

Linedata called the acquisition part of its “targeted, strategic plan” to expand footprint across key markets

The French firm said that the deal would help it strengthen Asia presence, expand outsourcing offering, and offer “truly global, around-the-clock services”.

Linedata founder and CEO Anvaraly Jiva said: “For more than a decade, QRMO has transformed the operational performance of asset managers across Asia. Integrating these services with our technologies strengthens the value of our offerings to the global financial services community.”

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