Asset Control, the leading provider of Centralized Data Managementâ¢ (CDM) solutions to the financial services industry, today announced that Fidelity Ventures has taken a majority investment in the company.
The company also said that Phil Lynch, former CEO of Reuters Americas and a Venture Partner with Fidelity Ventures, will succeed Ger Rosenkamp as CEO and President. Lynch will focus on leading the companyâs next phase of growth. Rosenkamp, who founded the company in 1991 and has led the firm to its current leadership position, will continue to serve Asset Control as Chairman of the Board. Additionally, in a concurrent move, Asset Control has acquired Vancouver-based TAP Solutions Inc., a company specializing in data accessibility software for financial services firms leveraging the MicrosoftÂ® technology suite, to extend its market solutions to firms of all sizes.
âThe timing for this investment with Fidelity Ventures is right, given the rapidly growing importance of data management,â said Ger Rosenkamp. âIâm proud of the Asset Control team and their accomplishments. This is an important step for our impressive client base, our employees, and the company. We didnât need to raise equity capital, but believe Fidelity Ventures is the ideal investment partner to accelerate Asset Controlâs market leadership and enable us to scale the business to the next level Iâm delighted to find an industry veteran as qualified as Phil Lynch to succeed me as CEO.â
Anne Mitchell, Partner with Fidelity Ventures, who will join the Asset Control Board of Directors added, âAsset Control has a tremendous and near-term opportunity for growth and we will leverage our global go-to-market resources to help make this a reality. Building on our existing relationship with Phil, and working in partnership with him, Ger, and the management team, we believe Asset Control is well-positioned to extend its leadership within financial services clients worldwide.â Simon Clark, Partner with Fidelity Ventures, will also join the Asset Control Board of Directors.