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Vermeg acquires a stake in BSB

Vermeg, the securities industry specialist in global securities processing and fund administration software, announced today an agreement whereby it acquires an equity participation in the capital of BSB, a provider of business solutions and IT services for insurers, private bankers, portfolio managers, wealth managers, holding companies, independent financial advisors and investment funds.

Under this agreement, Vermeg subscribes to a capital increase of EUR 5 million and will own 24.45% of BSB’s capital. The company will join the Board of Directors.

This move is intended to build an industry and strategic partnership for the benefits of the 2 companies and their clients. At the same time, it offers potential synergies, which will be explored over the next several months.