Swiss reference data outfit AIM Software has acquired neighbouring rival ABI Informatic, continuing the trend for consolidation in the financial data management industry.
ABI Informatic is the producer of Agio, a hosted software package for managing financial data, implemented in 25 financial institutions in Europe. With this acquisition AIM Software now counts more than 150 references in the enterprise data management space.
The move represents a pooling of expertise between the firms as the big beasts in the market data space launch their own enterprise data management services. Both Bloomberg and Markit have set their sights on expansion in this area with their recent acquisitions of independent vendors PolarLake and Cadis respectively.
Josef Sommeregger, global head of sales of AIM Software says: "The data management industry is moving towards a heterogeneous mix of light-weight business services, hosted solutions and on-site enterprise data management initiatives. ABI Informatic's ASP services very well complement AIM Software's offerings in this area and enlarge the list of solutions that AIM Software customers can now choose from."
Finextra data management survey 2012
Finextra and Capco are conducting an online survey to establish the main challenges facing financial services firms in the management of both structured and unstructured data sets within their organisation. The survey will also help identify the best practices financial institutions should adopt in order to reduce costs and improve business efficiency.
All survey respondents will receive an advance copy of the full set of survey findings, and will have the chance to win an iPad 3 in a prize draw to be conducted after the survey closes.