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SimCorp to buy AIM Software for EUR60m

SimCorp to buy AIM Software for EUR60m

Danish investment management technology firm SimCorp has struck a deal to buy data management specialist AIM Software for EUR60 million.

AIM, a longstanding SimCorp partner, provides data management software to the buy-side community, helping clients that collectively manage $13 trillion aggregate, master and report on their market data.

The firm generated revenue of EUR15.5 million last year and employees around 75 people in Vienna, London and New York, with another 40 staffers at a third-party service provider.

SimCorp says the acquisition will boost its strategic position because data management is a growing area of importance for the buy-side, playing a key role for firms when selecting systems.

Klaus Holse, CEO, SimCorp, says: "The combination of AIM’s data management capabilities and SimCorp’s integrated front-to-back, multi-asset investment solution will allow us to provide asset managers and asset owners alike with an even more comprehensive end-to-end offering, further strengthening our leadership position in an ever-evolving industry."

The acquisition is expected to close in August and will be financed by cash reserves and credit facilities.

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