25 February 2018
visit www.nextgenbanking.co.uk/

Wolters Kluwer to acquire FRSGlobal

23 September 2010  |  8892 views  |  0 handshake

Wolters Kluwer is to acquire Brussels-based regulatory reporting group FRSGlobal from PE investors Carlyle and Kennet Partners.

This acquisition comes on the heels of the landmark Basel III agreement setting new capital adequacy rules for financial institutions, and just a week after IBMK announced a similar deal to take over regulatory reporting and compliance outfit OpenPages.

Brian Longe, chief executive officer of Wolters Kluwer Financial & Compliance Services says the addition of FRSGlobal creates the world's largest compliance and risk management business focused on financial services, with more than 15,000 banking, insurance and securities customers across the globe.

"Together, FRSGlobal and Wolters Kluwer Financial Services will be able to provide global financial organisations with the most comprehensive compliance and risk management solutions available," he says.

Terms of the deal were not disclosed, but Carlyle and Kennet are understood to have made a decent return on their original investment in FRSGlobal in 2006.

During this time, the company recruited Steve Husk as CEO, Serge Minne as CFO and Michael Laven as chairman, completed the acquisitions of Iris Integrated Risk Management and Secam+, and significantly expanded the company's presence in Asia and the US.

Michael Wand, managing director and co-head of Carlyle's European Technology Partners team (CETP), says: "This achievement with FRSGlobal is a great endorsement of our original investment thesis of transforming a traditional software license business into a value-enhancing subscription-based recurring revenue model, based on strong domain expertise and content orientation."

Both Husk and Minne will join Wolters Kluwer and will continue to lead FRSGlobal.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

IBM to acquire OpenPages

IBM to acquire OpenPages

16 September 2010  |  7917 views  |  0 comments
ANZ centralises regulatory reporting with FRSGlobal

ANZ centralises regulatory reporting with FRSGlobal

05 October 2009  |  5828 views  |  0 comments
FRSGlobal wins SDC stress testing mandate

FRSGlobal wins SDC stress testing mandate

05 February 2009  |  4236 views  |  0 comments
FRSGlobal acquires Business Objects' Secam+

FRSGlobal acquires Business Objects' Secam+

10 November 2008  |  7260 views  |  0 comments
FRSGlobal buys Iris

FRSGlobal buys Iris

26 August 2008  |  7994 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comRegister for the webinarvisit www.swift.com/your-needs/instant-payments

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
12515 views comments | 16 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10740 views 4 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
9192 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
8569 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
8381 views comments | 11 tweets | 14 linkedin

Featured job

Competitive
Germany, Austria or Switzerland

Find your next job