Source: Objectway
Objectway, a leading provider of software and services to the EMEA investment management industry, today announced that it has signed a definitive agreement to acquire BETA Global, a European wealth and investment transaction processing system, from Thomson Reuters, the world's leading source of intelligent information for businesses and professionals.
The acquisition is expected to close immediately. Terms of the transaction were not disclosed.
BETA Global is an institutional and private client settlement system for global securities processing, available via a service bureau or a client-hosted solution. It provides integrated real-time processing, from trade capture and enrichment to confirmation, settlement and accounting. BETA Global is fully integrated with Objectway’s eXimius portfolio management platform. The integrated eXimius-BETA Global front-to-back office solution, marketed as Total Wealth Solution (TWS), is currently used in the UK by leading wealth and investment management firms such as JM Finn & Co.
“Objectway is delighted to add the BETA Global platform to our solution offering,” said Objectway CEO Luigi Marciano. “The system’s unique capabilities, integration with eXimius, and vote of confidence by some of the UK’s most successful wealth management firms make BETA Global a strategic and exciting addition to our wealth management suite. There will be distinct advantages for our clients by having both ‘halves’ of the front-to-back Total Wealth Solution under the same Objectway roof.”