Financial software players merge

7 Sep 2004

Information Mosaic (IM), a global provider of middle and back office software services to the securities services industry, has acquired software consultancy eVent, a developer of corporate action solutions.

IM, whose customers include private banks and international investment institutions across Europe and North America, says the acquisition will deliver additional business know-how and consulting skills.

John Byrne, CEO of IM, commented: “The market has recognised the value of automating corporate actions processing and are looking to vendors who have repeatedly succeeded in delivering projects. We are now in a position to lead this market.”

eVent founders David Baxter and Paul Fitzgerald have between them over 40 years of combined securities operations expertise.

Speaking on the move to IM, Baxter said: “Adding our knowledge and experience to an already winning team that has a reputation for success will ensure that, in terms of strength-in-depth of team, IM has the greatest level of expertise within the global corporate actions market.”

FitzGerald continued: “IM has an excellent corporate actions solution in its CAMA product. Crucially however they also have an implementation team that has proven its ability to deliver successful global corporate action projects where others have failed.”

By John Kennedy