PARIS, HONG KONG, BOSTON, LONDON, NEW YORK, August 7, 2017 – Linedata (NYSE Euronext: LIN), the global solutions provider dedicated to the investment management and credit industries, has signed an agreement to acquire Quality Risk Management & Operations (QRMO), a leading specialist provider of outsourced middle-office, shadow accounting and risk monitoring services to the asset management and securities industries.
The acquisition of QRMO, a Hong Kong-based company with 30 employees, allows Linedata to expand its outsourcing business and enhance its presence across Asia. QRMO will now be able to expand its range of outsourced services by integrating Linedata’s broad range of technology solutions. This acquisition gives Linedata the ability to offer truly global, around-the-clock services to its clients.
The outsourcing market continues to grow across all Linedata’s markets in response to evolving investor and regulatory demands for transparency and robust operational infrastructure. This acquisition is part of a targeted, strategic plan for Linedata to develop an expansive geographic presence across key markets, and follows the addition of Gravitas, a US-based provider of middle office and technology services, in January.
Anvaraly Jiva, Founder and CEO of Linedata said: “This is an exciting and powerful addition to the Linedata business, particularly as more and more financial institutions look to outsource and benefit from scalable, best-in-class technologies and services. For more than a decade, QRMO has transformed the operational performance of asset managers across Asia. Integrating these services with our technologies strengthens the value of our offerings to the global financial services community.”
QRMO, established in 2006, currently services over 30 hedge funds, wealth management firms and retail funds with a combined assets under management of USD 5 billion. The company has built an outstanding reputation as a flexible, efficient and high quality outsourcing provider, with a broad range of services that includes shadow NAV reporting, cash reconciliation, post-trade processing, risk monitoring and transparency reporting.
Angus Hung, CEO and Founder of QRMO, said: “Becoming part of Linedata, with its diverse range of industry leading products, will be of huge benefit for our clients.” Albert Chiu, President and Founder of QRMO, added: “We are looking forward to joining Linedata’s global, growing business as it continues to develop and expand its solutions for the asset management community.”
Linedata is a global solutions provider dedicated to the investment management and credit community, with close to 1250 employees in 20 offices across the globe. Linedata has been at the service of the financial industry from day one, and applies its market and client insight to provide innovative and flexible mission-critical software and services that help its clients grow in over 50 countries. As a pioneer for over 15 years with the set-up of SaaS infrastructure for the financial industry, Linedata remains committed to this model throughout the global financial community and for its full range of products. Headquartered in France, Linedata achieved revenues of EUR 166.8 million in 2016. This company is listed on Euronext Paris compartment B-FR0004156297-LIN – Reuters LDSV.LN – Bloomberg LIN:FP.
Founded in 2006, QRMO is a premier independent risk management and operations outsourcing company for the investment industry. QRMO provides its hedge fund clients, which collectively manage over USD 5 billion and broadly range in strategy complexity, asset size and stage of development, the flexibility to outsource all or some of their risk management, middle-office and back-office operations. Based in Hong Kong and employing over 30 employees, QRMO achieved revenues of USD 3.2 million in 2016.