SimCorp has agreed to acquire all shares in the Swiss company, Keymark AG of Zürich.
Established in 1996, Keymark AG is a software company specialising in the development of fund accounting and reporting solutions for institutions specialising in European mutual funds. The company has developed substantial competencies in this area and is an established provider of administrative software solutions to the German mutual fund industry. It has, for example, delivered a reporting solution to one of the largest German mutual funds and is currently finalising a fund accounting solution for another of the large German mutual funds.
Following the acquisition, SimCorp will be integrating Keymark’s mutual fund solutions - starting with fund accounting - into its market leading investment management system, TMS2000. This will further strengthen SimCorp’s market position as a provider of complete solutions to the mutual fund industry.
Keymark joins SimCorp with its 10 staff to support product development. With a change of name to SimCorp Business Systems AG, the Swiss operation will be managed by Hanspeter Wachter, 45, who was one of the founders of Keymark. Wachter has a background in engineering and has been working with the development of portfolio management and back office software for the financial industry for more than 10 years.