Risk systems vendor Swissrisk has acquired a majority interest in Riva Financial Systems, a European provider of transfer agency (TA) software and services.
Rive says the deal will allow it to utilise Swissrisk's organisation, technologies and services to drive sales of its Riva Transfer Agent (Riva TA) platform.
Riva TA is a dealing and registration system for administering and controlling all aspects of a cross-border, multi-currency TA operation. The system provides a core operating platform capable of supporting both UK and European markets within a single database.
David Ball, director, Riva, says the platform is purpose built for the complexities of the European marketplace.
Commenting on the deal with Swissrisk, Ball says: "We have a partner that understands our business. Our joined technology and business experience enables breakthroughs in cost-efficiency and effectiveness for our customers."
Swissrisk says it will add senior executives to the Riva board, including CEO Peter Marshall. Riva will continue to operate from its offices in the Isle of Man and Luxembourg, under the Riva brand.
Financial terms of the transaction were not disclosed.