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DSTi announces acquisition of Mosiki Development

DST International (DSTi), a leader in IT solutions for the investment management industry, has today announced the acquisition of Mosiki Development, a consulting and software firm specialising in financial services technology.

On completion of the acquisition, Mosiki Development’s team of financial services consultants and IT professionals will join the DSTi organisation in the United States and Tom Montgomery, the President of Mosiki Development, will take a lead role in integrating the DSTi and Mosiki groups to form a new DSTi professional services division.

Mosiki Development are also well know for a number of specialist financial information management and analysis tools, which have proven very successful in helping streamlining the back office operations of a number of large asset management firms in the US market. DSTi will look to integrate these proven solutions into their accounting and performance measurement solutions going forward, in order to provide customers with a more effective total offering from a single supplier.

Tom Abraham, CEO of DSTi, said, “We are delighted to have acquired Mosiki Development, which has built an exceptional reputation in North America for its customer-centric culture and high level of customer service. We have ambitious plans for growth in North America, and I firmly believe that we will achieve this by closely aligning our business with the needs of our clients. The creation of a new professional services division, staffed by additional highly qualified and experienced associates, will enable us to fully understand the broader business issues facing our clients, and provide a flexible and accountable service that will really add value to our clients’ businesses.”

Tom Montgomery, President of Mosiki Development said, “Over the last eight years, Mosiki Development has built a reputation for innovation, speed and exceptional customer service. We are very excited to now have the backing of DST International which will enable us to extend the reach of our services and expand significantly, whilst continuing to work in partnership with our existing clients to deliver strategies and solutions to maximise efficiency.”

Marcus Ansell, President of DSTi’s North America operations said “This is truly a step forward in the development of our consulting services in the US market place and will enable us to combine the entrepreneurial skills of the Mosiki organisation with the corporate strength of DST. We feel that this is a very natural partnering of two companies, to better service our customers and the market, which our joint client base wholly encourages and supports”

The acquisition is effective from August 1st.