Valsoft, which specialises in the acquisition and development of vertical market software businesses, has acquired Switzerland-based wealth management software firm Finartis.

Financial terms of the deal have not been made public.

Finartis provides Prospero, a suite of solutions designed to caters to wealth management, asset management, fund administration, and independent asset management, and family office specific segments.

It also offers a portfolio optimisation solution dubbed BlackSwan Financial Platform.

Finartis CEO Jean–Luc Freymond said: “We are very proud of what we’ve accomplished to date, establishing our flagship product Prospero as an award-winning solution with impressive success over the past years.

“We realised we needed a partner to help us unleash our untapped growth potential fast and immediately felt that Valsoft was the right one from a cultural and goals alignment perspective.”

Freymond will remain on board with the team.

Commenting on the deal, Valsoft CEO and co-founder Sam Youssef remarked that Finartis is a natural fit for the company and will offer a seamless integration into the Valsoft family.

Youssef said: “The team, culture, and leadership are well aligned with our existing values, which has also made this transaction seamless. Portfolio Management is a vertical we have extensive insight into given our team’s experience and believe this is the best entry into the vertical which we will continue to build and expand. We are excited to grow our presence in the sector through this acquisition.”

Last May, Private Client Resources joined forces with Finartis to offer a fully front-to-back experience to private banks, asset managers, and family offices.