Lombard Risk recommends Vermeg cash acquisition

The Boards of Vermeg Group, a Dutch financial software provider, and Lombard Risk Management announced the terms of a recommended cash offer by Vermeg for the entire issued and to be issued ordinary share capital of Lombard Risk.

Lombard Risk’s directors, who were advised by Quayle Munro, consider the terms of the acquisition to be fair and reasonable.

Vermeg has provided IT solutions to the financial services and insurance industry for over 15 years and has become a key partner for custody/asset management and life insurance solutions in Europe. In order to enhance its market position, Vermeg has embarked on an ambitious development strategy, via a combination of organic growth and acquisitions.

The Vermeg Board believes that the acquisition represents a compelling opportunity to acquire an innovative global technology firm with a dedicated focus on the collateral management and regulatory reporting niches, which, when combined with the existing Vermeg business, would have the potential to create a strong complementary platform for future growth and value creation.

Although the companies address a broadly similar client base within the financial services industry, they are highly complementary in terms of solutions, with minimal overlap across geographies and product portfolio.

A spokesman for Lombard Risk declined to comment further than what is contained in the announcement but did say that: “It’s good news and we are excited. Our solutions are highly complementary.”

Read the full announcement

Related Posts

Previous Post
ESMA raises concerns on fees charged by CRAs and TRs
Next Post
Northern Trust moving Citadel’s tech in-house

Related Posts

Fill out this field
Fill out this field
Please enter a valid email address.


Reset password

Create an account