Business Services Industry
SimCorp A/S sells treasury software business to CapMan Plc
Nordic Business Report, May 29, 2007
NORDIC BUSINESS REPORT-29 May 2007-SimCorp A/S sells treasury software business to CapMan Plc(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
Danish financial software developer SimCorp A/S announced on Tuesday (29 May) that it has agreed to sell its subsidiary SimCorp Treasury Solutions Ltd to the Nordic private equity investor CapMan Plc.
SimCorp Treasury Solutions develops the IT2 treasury management software and has 39 employees.
The sales price comprises a fixed payment of EUR11m and additional payments based on future performance.
The sale will enable SimCorp to focus on its core business, the sale, implementation, maintenance and development of SimCorp Dimension.
SimCorp, headquartered in Copenhagen in Denmark, provides software for the financial sector and corporate treasuries. The company has 750 employees and subsidiaries in Amsterdam, Brussels, Frankfurt, Hong Kong, London, New York, Oslo, Stockholm, Singapore, Sydney and Zurich. SimCorp is listed on the Nordic Exchange in Copenhagen.
One British pound (GBP) is worth approximately 1.46 euros (EUR).
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