Paris-based financial systems group Linedata Services is looking to sustained growth in buy-side IT spending to drive its business forward next year after booking solid gains, particularly in US markets, in 2005.
Linedata Services’ Asset management business achieved revenues of EUR64.9 million (+18.9%) in 2005, 14.8% resulting from organic growth compared to 7.6% in 2004. This performance was mainly due to strong commercial successes in the United States through penetration of the firm's Liquidity Alliance program, the operational implementation of a major contract with UBS and the first contracts signed for LongView in ASP mode. In Europe, growth proved solid on both the British and Luxembourg markets but was hampered by delayed signatures in France.
In the second half Linedata rounded off its product portfolio with the acquisitions of Global Investment Systems and Beauchamp Financial Technology, effectively giving the group a complete front-to-back office offer across multiple market segments.
Looking ahead to 2006, Linedata talks optimistically about prospects for its asset management division: "Given its broader functional and geographic scope, this business boasts excellent potential and looks set to remain one of the group’s principal driver of organic growth in 2006."