Lombard Risk confirms approach from FRSGlobal

Lombard Risk confirms approach from FRSGlobal

Fresh off a big collateral management software sale to Société Générale, Lombard Risk has confirmed a takeover approach from Wolters Kluwer subsidiary FRSGlobal.

In a stock exchange statement, Lombard said that "any offer, if made, will not include shares in Wolters Kluwer N.V. as consideration. It should be noted that discussions are at a preliminary stage and there can be no certainty that any offer will be made."

The UK-based vendor has cashed in on new risk management rules, swinging back into the black for fiscal 2011 with a pre-tax profit of £0.6m.

The £2 million deal with SocGen is a significant win for the company, bringing in a prestigious tier one client and a guaranteed future revenue stream.

In April, FRSGlobal acquired Spring Programs, an independent provider of financial regulatory reporting software in the UK banking market.

Within days, FRSGlobal parent Wolters Kluwer announced the expansion of its enterprise risk management (ERM) offering, ARC Logics for Financial Services, to the European marketplace.

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