banking, US healthcare and UK financial services sectors, has acquired
Eagleye Solutions, a supplier of compliance software for the asset
Misys will pay a total consideration of up to Â£15m over a three year period
for the acquisition.
The acquisition expands the Misys Asset Management Systems' presence in
middle and front office applications for the tier one international asset
The Eagleye management team includes executive Chairman Andrew Brown,
formerly Joint Chief Executive of Gartmore Investment Management plc, and
Managing Director Stephen Oxenbridge. A number of large prospects have
indicated substantial interest in working with Eagleye.
Eagleye will relocate to the Misys Asset Management Systems headquarters in
London, Finsgate. Through the acquisition, Misys Asset Management Systems
will enable asset managers to check and confirm pre and post trade positions
in real time, preventing possible manual errors and breaches of client
mandates, institutional rules and Government regulations. Eagleye has been
developed using Microsoft's revolutionary ".Net" technology.
Chris Potts, Chief Executive of Misys Asset Management Systems, commented:
"Increasing government, internal and client regulation are adding to the
pressures on asset management institutions to deliver better and more timely
compliance capability and processes. The acquisition of Eagleye will
strengthen the Misys position in this sector and help us to deliver improved
functionality for our asset management clients, to cope with the rapidly
growing market demand for them to demonstrate that they have reliable
controls, internal consistency and regulatory compliance."
Chris Potts added: "Most compliance solutions are complex and lack the
flexibility to meet contemporary business and regulatory requirements. The
challenge is to produce a more effective, efficient and elegant software
solution to make these changes painless, quick and risk free; Eagleye is
unique in possessing these properties."