French asset manager Amundi has acquired Aixigo, a German software solutions provider for financial institutions, in a €149m ($157m) deal.

With a team of 150 professionals, Aixigo serves more than 20 clients, including top international financial institutions that manage over €1tn in assets.

Approximately 60,000 advisors use Aixigo’s services daily for various tasks such as client onboarding, portfolio management, order placement, and report generation.

This deal aims to expedite the integration of technological solutions into the IT infrastructures of banks and financial intermediaries.

The addition of aixigo is set to further accelerate Amundi’s development and strengthen its position as ‘leading provider of technology and services’.

This move is set to expand Amundi’s client and geographical reach, benefiting from Aixigo’s client base in Germany, Switzerland, and the UK.

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With the integration of Aixigo’s tools, Amundi Technology will be able to offer a more comprehensive suite of services to its clients, covering the entire savings value chain.

Aixigo CEO Arnaud Picut said: “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.

“It is also an opportunity to thank Urs Ehrismann, Founder of fronttrail Equity Partners that has accompanied Aixigo as an equity investor over the past six years, enabling to build a successful European wealthtech platform provider.”

The French asset manager, through its Amundi Technology business and Alto solution, is already operating in the digital technology market.

Earlier this year, Amundi signed a deal to acquire Alpha Associates, a Swiss investment manager and adviser in private equity, private debt, and infrastructure.