Rhyme Systems, a 3i Infotech company and a leading provider of asset management solutions, today announces that it has signed a definitive agreement to acquire Exact Technical Services (Exact). The strategic acquisition of Exact complements Rhyme’s stockbroking solution Altimis and further consolidates the 3i Infotech offering in the UK financial services market.
A profitable company that enjoys a loyal and diverse client base, Exact provides MiFID compliant, multi-currency, agency stockbroking solutions to the UK asset management market. The business specialises in the provision of contract & CFD management; settlement; client & market dealing, deposit & margin accounting, custody, PEP/ISA, and portfolio services.
Commenting on the acquisition, Chris Potts, Chief Operating Officer, 3i Infotech – Western Europe, said, “As one of the leading providers of financial services technology, today’s acquisition of Exact capitalises on our existing capabilities and will help us to deliver an enhanced service to the European market. At a time when the industry is experiencing increased pressure to provide a cost effective, yet comprehensive service to its customers, the acquisition will complement Altimis, our existing stockbroking and clearing product.”
Peter Kelly, Founder, Chairman and Partner, Exact, said, “With 3i Infotech's financial services focus, our stockbroking software fits in perfectly and we look forward to jointly addressing the ever expanding UK financial services segment.”