Financial management systems vendor Linedata Services has purchased Thomson Financial's Icon, Icon ASP and Icon Retail applications and Portfolio Analyst Reporter (PAR) solution and PreView tools set, for an undiclosed sum.
Linedata says it will gain 60 new clients in Europe by acquiring the solutions, which are all targeted at the European market.
Anvaraly Jiva, CEO of Linedata Services, says the deal "reinforces our cross selling potential and clearly strengthens our ability to meet our clients' needs for best-of-breed solutions."
Icon is a back-office investment management, fund administration, valuation and reporting solution that is also available as an ASP (Icon ASP). Icon Retail is a retail administration system for marketing and managing retail fund vehicles.
Portfolio Analyst Reporter (PAR) provides data integration and reporting and PreView is a front-office toolset geared to support, then implement, the investment decision with modules covering analytics, modelling, order entry, compliance and reporting.
Thomson Financial says it will continue to support any data requirements of the products acquired by Linedata.