Vermeg, the securities industry specialist in global securities processing and fund administration software, announced today an agreement whereby it acquires an equity participation in the capital of BSB, a provider of business solutions and IT services for insurers, private bankers, portfolio managers, wealth managers, holding companies, independent financial advisors and investment funds.
Under this agreement, Vermeg subscribes to a capital increase of EUR 5 million and will own 24.45% of BSB's capital. The company will join the Board of Directors.
This move is intended to build an industry and strategic partnership for the benefits of the 2 companies and their clients. At the same time, it offers potential synergies, which will be explored over the next several months.