Amundi announces the acquisition of aixigo, a technology company that has developed a high value-added modular service offering for distributors of savings solutions. Its platform, which is entirely based on API1, enables new services to be deployed quickly and easily into existing IT infrastructures of banks and financial intermediaries.
Whilst digital technology has become a key lever to managing customer relations for wealth managers, the latter are also seeking to leverage technologies to enable their staff to advise, distribute and manage investment solutions more effectively. As a result, the market for technological services for wealth management players as well as private and retail banks, is growing significantly.
Already active in this buoyant market through our Amundi Technology business line and its solution Alto, we will accelerate our development with the acquisition of aixigo, and thus reinforces our positioning as a leading provider of technology and services. Our client and geographical coverage in this market will be further enhanced by aixigo’s client base in Germany, Switzerland and the UK.
A combination of two complementary platforms
Founded in Germany 25 years ago by a group of academics, aixigo has expanded rapidly in recent years, with significant growth in revenues. aixigo and its 150 staff, currently serve over 20 clients, including leading international financial institutions representing over €1 trillion in assets under management. Some 60,000 advisors already use aixigo's services daily to onboard clients, build and manage allocations, place orders and generate reports.
Amundi Technology has also significantly enhanced its offering, providing to the investment and savings industry with technological solutions for portfolio management, employee savings & retirement, wealth management and asset servicing. Its highly diversified client base comprises over 60 clients, including banks, private banks, pension funds, insurers, fund custodians and asset managers in Europe and Asia.
From this point on, aixigo’s tools will be part of the solutions Amundi Technology provides to its clients across the entire savings value chain.
A transaction creating substantial value
This transaction, which is in line with our strategic plan and financial discipline, will create significant value thanks to the business growth potential, as well as the revenue and cost synergies. The amount of the transaction is 149 million euros2. The return on investment will be nearly 10% after 3 years, and above 12% after 4 years.
1APIs (application programming interfaces) enable a quick integration of new features into existing software. These interfaces act as gateways, connecting one software to another so that they can exchange data or functionality.
2Net of cash available in aixigo’s balance sheet.
