Axioma reported today the completion of its previously announced acquisition of the risk-reporting unit of ConceptONE, a global provider of back-office investment services. The transaction follows Axioma’s acquisition of ConceptONE’s regulatory-reporting unit in March. Terms were not disclosed.
“The integration of ConceptONE’s regulatory- and risk-reporting businesses with Axioma Risk—our enterprise-wide risk solution—enables us to provide clients with an unparalleled and consistent view of risk and regulatory reporting that spans the entire organization, from front to middle to back office,” said Dr. Sebastian Ceria, chief executive officer of Axioma. “Equally important, by utilizing Axioma Risk as the underlying computational engine, we are leveraging the flexibility and power of the cloud to drive the heavy duty analytics and modelling capabilities that enable our clients to address the complex issues and challenges they face.”
With the addition of ConceptONE’s risk-reporting unit, Axioma is now capable of providing state-of-the-art risk-reporting services to a full range of clients, from smaller hedge funds to large asset managers.
“Axioma will now be able to deliver turn-key risk and regulatory reporting to a breadth and depth of clientele that is unmatched in the marketplace,” said Ceria.
Ken Grant, chairman and co-founder of ConceptONE, said, “I am pleased to have transferred our risk solutions business to the world-class Axioma analytics platform, which is exceedingly well positioned to serve both the needs of our clients and those of the investment community at large.”
The ConceptONE units acquired by Axioma will now be known as Axioma Reporting Solutions.
ConceptONE’s Fund Services was not included in the transaction and continues to operate as an independent entity.
Macquarie Capital served as financial advisor and Royer Cooper Cohen Braunfeld LLC as legal counsel to ConceptONE. Bryan Cave LLP served as legal counsel to Axioma.