Vistra, a Hong Kong-based provider of corporate, trust and fund administration services, has acquired optegra, a Germany-based provider of auditing, tax consultancy, legal advisory, and management consultancy services, for an undisclosed sum.

optegra has offices in Cologne, Hamburg and Munich. The firm employs 120 staff and serves clients from multiple industries such as IT, telecommunications, private equity, and real estate. All the partners of optegra will remain with the firm as part of the deal.

Vistra said that the takeover will strengthen its service range in Germany, including the provision of audit and fund administration services to alternative investment funds and to alternative investment managers.

Vistra group managing director for corporate & private clients Arjan Schaapman said: “With the acquisition we hope to bridge the gap currently seen in terms of available service providers in the International Expansion market. In addition, their niche position in the German fund administration business gives us a unique position and great opportunities to work together with Vistra’s existing fund administration platform.

“This also sees a significant expansion of our presence in Germany, the largest economy in Mainland Europe, which is a strategic move forward in growing our global footprint.”

Vistra has been on an acquisition spree in the recent times, the most recent being its acquisition of Monaco-based privately owned wealth structuring advisory business Podium SAM in February 2017.