The acquisition is expected to close later this month. Terms of the transaction were not disclosed.
Futurimpresa Sgr S.p.A., the Italian institutional private equity fund which has recently invested in Objectway, becoming a minority-stake shareholder, has financially supported the acquisition of eXimius by providing Objectway with the required capital.
eXimius is a relationship-centric portfolio management, modeling and reporting platform. eXimius is designed for wealth managers who want a single platform to grow and manage their clients’ wealth management needs.
Post acquisition, eXimius will be integrated into Objectway Financial Software’s broader suite, which is designed to enable wealth and asset management institutions of all sizes.
Luigi Marciano , founder and chairman of Objectway Financial Software, said: "This acquisition strongly reinforces our positioning and accelerates our commitment to expand within EMEA,"
"With the addition of eXimius’ client wealth management platform, we’ll be able to add another advanced and complimentary solution to Objectway Financial Software’s product portfolio, which is focused on meeting the rapidly evolving needs of financial advisors," Marciano added.
Ashurst has acted as the legal advisor and Klecha & Co. as the financial advisor to Objectway.