Infobolsa, the information dissemination company jointly owned by BME and Deutsche Boerse, has acquired 62% of Openfinance, a Spanish leading company in front-office solutions for financial advisory and portfolio management, for €3.5 million.
This acquisition allows Infobolsa to further diversify its business and bolster its growth plans for the coming years aided by a leading financial advisory and portfolio management software company.
Over 60 financial entities currently use Openfinance's technological solutions to compile portfolio reports, make investment proposals and manage the commercial side of their financial advisory business. This innovative solution perfectly complements the range of services and products offered by Infobolsa as it enables users to manage high value-added portfolios, provide commercial advisory services and contract products in real time.
Infobolsa's main markets are Spain, Germany, Portugal and Mexico where it supplies over 2,500 financial terminals to professionals, offering the major financial entities market data, content and online solutions. It also disseminates economic information to end customers.
Openfinance was a pioneer in developing modular solutions for financial advisors, managers and personal and private banking retail networks. Its tools are standardised and guarantee full MiFID compliance. Solutions are also available for online banking and mobile applications and offer ground-breaking financial solutions for Web 2.0. The company is present in Spain and France and has just begun operations in Scandinavia.
Both companies plan to extend the international reach of their solutions, particularly in Latin America, where Infobolsa is already well-positioned.