- Amundi Technology has agreed to acquire aixigo in a deal valued at $157 million.
- Amundi will leverage the acquisition to strengthen its role as a leading technology and services provider in the asset management space.
- Aixigo last demoed its technology on the Finovate stage at FinovateFall 2018 in New York.
Amundi Technology, an asset manager based in France, has acquired German wealth management platform provider aixigo. The transaction has been valued at $157 million (€149 million).
The acquisition is designed to help banks and financial institutions integrate technological solutions into their IT infrastructures faster. Adding aixigo will help Amundi develop further as a technology and services provider, enabling the firm to offer a more comprehensive range of services. The acquisition will also expand Amundi’s geographical reach thanks to aixigo’s customer base in Germany, Switzerland, and the U.K.
“Joining Amundi Technology presents aixigo with a unique opportunity to expand our service offerings and leverage Amundi’s expertise, allowing us to become the undisputed European leader before gradually extending our reach into Asia, a vision that perfectly aligns with our values and ambitions,” aixigo CEO Arnaud Picut said.
Founded in 1999, aixigo offers modular, intuitive wealth management technology. The company’s aixigo:BLOXX wealth management platform is a fully customizable solution that enables financial services providers to design wealth management services that fit their specific requirements and preferences. Portfolio analysis and reporting, digital portfolio management, risk management, financial planning, and investment advice are among the features of aixigo’s high-performance, API-based platform.
With a staff of 150, aixigo serves more than 20 clients representing more than $1.05 trillion (€1 trillion) in assets under management. The company reports that 60,000 advisors use aixigo’s technology on a daily basis for everything from client onboarding to report generation. Amundi is a leading European asset manager with 100 million retail, institutional, and corporate clients. A subsidiary of the Crédit Agricole Group, Amundi manages $2.3 trillion (€2.2 trillion) in assets.
“With the addition of new expertise, which has already been adopted and recognized by leading financial firms, we will continue to roll out new innovative services, and play an active part in the development of the financial advisory and wealth management sector,” Amundi Chief Executive Officer Valérie Baudson said. “This transaction will create significant value for our clients, partners, and shareholders.”
Headquartered in Aachen, Germany, aixigo made its Finovate debut at FinovateEurope 2017. The company most recently demoed its technology before Finovate audiences at FinovateFall 2018 in New York.