Investment and treasury management systems vendor SimCorp has acquired a 62% stake in Solutionforge, a UK-based provider of FIX-based straight through processing (STP) technology.
Financial terms of the deal were not disclosed but SimCorp says it has an option to acquire the remaining shares in Solutionforge in the future.
John Mayr, head of marketing and business development at SimCorp, told Finextra that Solutionforge's FIX.Net Server product will continue to be sold as a standalone product, while the FIX.Net Trader technology will be embedded into the vendor's flagship investment management product, SimCorp Dimension.
Commenting on the acquisition, Solutionforge MD Matthew Reid says: "As the FIX engine market has matured suppliers must offer products of increasing value to customers. By combining with SimCorp we can do just that, especially since our .NET based solutions are so well aligned technologically with SimCorp Dimension."