Apax acquires minority stake in Odyssey Asset Management Systems

Apax acquires minority stake in Odyssey Asset Management Systems

Private equity investment firm Apax Partners France has acquired a minority stake in Swiss wealth management technology vendor Odyssey Asset Management Systems. Details of the deal were not disclosed.

The transaction will see Apax become the second largest shareholder in the company after Odyssey chairman and co-founder Antoine Duchateau. The investment group will also hold two board seats.

Share figures were not disclosed.

The vendor says it will use the funds to further develop its product offering and international presence.

Commenting on the acquisition, Duchateau says: "Apax's know-how and international network will help us continue to pursue our ambitious product development and international expansion in the Americas and in Asia, thereby expanding our leading market position beyond Europe."

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