Thomson Financial, an operating unit of The Thomson Corporation, has purchased eXimius, a wealth management application provider, from Business Architects. Financial terms of the acquisition were not disclosed. The acquisition builds on Thomson Financial and Business Architects’ existing partnership announced in June 2006.
It will enable the integration of Thomson Financial’s wealth management and investment management capabilities with the eXimius front-office private client investment management application, and will allow Thomson Financial to offer a fully-integrated front-office solution for their gloabl private banking and wealth management clients.
The eXimius management team and its 36 employees, based primarily in Belgium and the UK, will join Thomson Financial and will continue to sell and develop this application for the private client investment management community.
“We are pleased to build on the success of our agreement with Business Architects, and welcome eXimius to Thomson Financial,” says Donal Smith, the President of Europe & Asia at Thomson Financial. “eXimius will significantly extend our capabilities to serve private client investment managers in Europe and Asia, whilst presenting an exciting opportunity to extend our offering in the US private banking and private client investment management market, where Thomson Financial already has market leading solutions serving the retail private wealth community.”
“We are proud of the success of the eXimius product and its people; joining Thomson Financial is a worldwide acknowledgement of their achievements,” adds Franky Van Damme, the Founder and Chief Executive Officer of Business Architects International. “This strategic move will allow eXimius to continue its product strategy and to become a key market player, whilst extending its geographical coverage.”