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Odyssey acquires Canadian wealth management outfit Xeye

23 January 2008  |  5539 views  |  0 handshake

Luxembourg-based Odyssey Financial Technologies has acquired Xeye, a Canadian provider of wealth management technology. Financial terms of the deal were not disclosed.

Xeye is based in Mississauga, Ontario, with an office in New York. The firm's flagship product, WealthManager, is targeted at private banks and trusts, financial planners, broker dealers and wealth managers.

Odyssey says the acquisition will boost its presence in the North American markets.

Xeye WealthManager will continue to be offered as a standalone product but will also be integrated into Odyssey's wealth and asset management platform.

Commenting on the acquisition, Antoine Duchateau, chairman and CEO, Odyssey, says: "Xeye has built a full Java Oracle SOA platform for the front-end wealth management market, which is especially strong in North America within the CRM/advisory retail brokerage area. This complements our strengths in the HNWI/private banking domain significantly."

Last May Odyssey bought CAfIT, a UK-based provider of fixed income, derivatives and balanced fund software to asset managers.

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