Thursday, August 13, 2015

Objectway Acquires Back Office Solutions BETA Global From Thomson Reuters

Objectway, a leading provider of software and services to the EMEA investment management industry, has signed a definitive agreement to acquire BETA Global from Thomson Reuters. Financial terms of the deal were not disclosed. 

BETA Global is a European wealth and investment transaction processing system owned by Thomson Reuters, the world's leading source of intelligent information for businesses and professionals. The deal is expected to close immediately. 

Founded in 1990 and based in Milan, Italy, Objectway is a privately held company specializes in investment management and digital software solutions to the EMEA financial services industry. The company is the clear leader in Italy and among the top European players in the development and production of software platform and business services for the EMEA financial services industry. Objectway's platform supports the activities of more than 100,000 investment managers and private bankers and handle over 1 trillion euros of assets.

BETA Global is a wealth and investment processing system available via a service bureau or a client-hosted solution. BETA Global provides integrated real-time processing for global securities processing, which trade capture, enrichment to confirmation, settlement and accounting. BETA Global's front-to-back office solution, which marketed as Total Wealth Solution or TWS, is currently used in the UK market by leading wealth and investment management firms.

Luigi Marciano, Objectway CEO, said in a statement: “Objectway is delighted to add the BETA Global platform to our solution offering“, and also added that: "The system’s unique capabilities, integration with eXimius, and vote of confidence by some of the UK’s most successful wealth management firms make BETA Global a strategic and exciting addition to our wealth management suite. There will be distinct advantages for our clients by having both ‘halves’ of the front-to-back Total Wealth Solution under the same Objectway roof.”

Image Credit: International Banker

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