Objectway, a provider of software and services to the EMEA investment management industry, has agreed to buy BETA Global, a wealth and investment transaction processing system, from Thomson Reuters.
BETA Global is an institutional and private client settlement system for global securities processing, available via a service bureau or a client-hosted solution.
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The company offers integrated real-time processing, from trade capture and enrichment to confirmation, settlement and accounting.
Objectway said that BETA Global is fully integrated with its eXimius portfolio management platform.
Commenting on the deal, Objectway CEO Luigi Marciano said: "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."
The acquisition, whose terms were not disclosed, is expected to close immediately.
