FE fundinfo snaps up wealth management fintech Dericon
UK-based financial data firm FE fundinfo has acquired Dericon, a wealth management fintech based in Germany, as it doubles down on its European expansion plans.
FE fundinfo to acquire Germany’s Dericon
Founded in 2008 in Frankfurt, Dericon provides financial institutions, traders and investors with solutions for derivative pricing, market data integration, portfolio management and compliant product structuring through its web-based distribution network, Dericon WMS, which is currently in use by over 150 banks and investment houses across Europe.
Its acquisition, for an undisclosed sum, will enable FE fundinfo’s clients in asset management to access Germany’s largest distribution channel via the Sparkassen Group, which operates as a network of public banks collectively serving 50 million customers.
Liam Healy, CEO of FE fundinfo, says the acquisition of Dericon will enable the firm to strike greater clarity between distributors and investment product information, while providing German investors with “the broadest range of investment opportunities through Dericon’s transparent and competitively differentiated solution”.
FE fundinfo says its offering “supports the entire fund management product lifecycle and gives asset managers, issuers of structured products and distribution networks access to the most accurate and timely information”.
The purchase signals the continued acceleration of the firm’s expansion plans, which since 2021, has been driven by six separate acquisitions. These include CashCalc in the UK, Zenith Group in Australia, and FundConnect in Denmark in 2021; Funds360 in France and Fundsquare in Luxembourg in 2022; and most recently, Adjuto in France last year.
For Dericon founder and MD Andreas Krause, the acquisition by FE fundinfo will enable the fintech to “grow our reach and bring our data and technical capabilities to the wider international financial industry”, as it seeks to develop its WMS platform into a “fully-featured German distribution hub”.
