Fintech provider Profile Software has agreed to acquire French firm Login SA, a specialised provider of financial treasury software, for an undisclosed sum.
The two parties already have an alliance, with Login’s AcumenNet platform integrated with Profile’s banking platform FMS.next.
The AcumenNet platform has been designed to meet front-office, trading, risk management, middle and back office needs of treasury departments at banks, and caters to multiple asset classes such as forex and money market instruments, exchanged traded and OTC derivatives, and securities and commodities.
Commenting on the deal, Login executive director Marc Beaulande said: “After having worked together as partners over the past couple of years, we have found a lot of synergy, common approaches and market views between Profile Software and Login SA and we are therefore very happy with this strategic acquisition.
“It will allow our company to even better serve our existing clients and to expand our client base. AcumenNet platform will deliver additional functionalities and will address new market segments.”
The takeover is expected to be wrapped up in 2018.
Profile CEO Babis Stasinopoulos said: “This acquisition further emphasizes our company’s commitment to achieving strategic international expansion, strengthening our presence in key financial centers and moving to the new era of banking and fintech.”