Dion buys controlling stake in Swissrisk

Dion buys controlling stake in Swissrisk

Dion Global Solutions has acquired a controlling stake in Frankfurt-based Swissrisk Financial Systems. Terms of the deal were not disclosed.

Swissrisk Financial Systems - which legally split with wealth management specialist Swissrisk in 2008 - provides financial software covering securities issuance, market making, data handling, payments and financial messaging.

With around 70 staff at offices in Frankfurt, London, Luxembourg and Madrid, the company gives India-headquartered Dion a platform to build its position in Europe, providing a strong client base.

The acquisition will also enable Dion to use Swissrisk's workflow and messaging engine, X-Gen to integrate its products both internally and externally with clients' systems, says the buyer.

Ralph Horne, global CEO and MD, Dion, says: "The combined domain expertise of both companies as well as the highly complementary suite of products greatly enhances our portfolio of solutions. It means that Dion can offer a truly integrated, global suite of products across the financial services industry."

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