NeoXam has completed its carve-out from its former parent group Sungard Financial Systems, and acquires Nexfi with the support of BlackFin.
NeoXam is a provider of front, middle and back office software solutions dedicated to asset managers, asset owners and securities servicing platforms. It employs 300 highly skilled financial software developers and consultants in Europe, China, Africa, and the US. Neoxam’s clients include Tier 1 financial institutions such as Caceis Investor Services, BBVA Asset Management, UBS and Citic Securities. In January 2014, BlackFin acquired the GP3 and Decalog software programs from SunGard and constituted NeoXam together with buy-in manager Serge Delpla. NeoXam now operates as a standalone entity and enjoys strong growth, driven by a reshuffled management team and several new customers.
After having successfully completed the carve-out, NeoXam acquires 100% of Nexfi, a provider of investment management software dedicated to wealth managers, asset managers, institutional investors, and hedge funds. Nexfi's integrated solution TrackerPM covers all front, middle and back-office functions, including order management, position keeping, reconciliation, compliance, reporting, risk and control.
BlackFin’s objective is to consolidate NeoXam’s position as a leading asset management software provider in Europe. The acquisition of Nexfi allows NeoXam to broaden its product offering, to reinforce its market share in the institutional investors segment, and to strengthen its R&D capabilities.
The completion of the carve-out of NeoXam in less than a year, followed by the acquisition of Nexfi, exemplifies BlackFin’s active management of its portfolio companies and its ability to handle complex transactions such as carve-outs and management buy-ins.
BlackFin will capitalise on the success of the NeoXam investment to acquire other growing and profitable financial software providers in continental Europe.
