NeoXam set to acquire data control and automation platform EZOPS
Paris-headquartered NeoXam is set to acquire AI-powered data control and automation company EZOPS to expand its reach throughout “key markets” in Europe, Asia and North America.
NeoXam set to acquire EZOPS
The proposed acquisition would enable NeoXam to strengthen its fintech offering with the addition of EZOPS’ data control, workflow automation, reconciliation and regulatory reporting solutions.
Founded in 2014, NeoXam offers a suite of data management, reporting, portfolio accounting and transaction software solutions and currently claims to service more than 150 asset managers and market service providers as well as global and regional banks in 25 countries worldwide.
The firm says its solutions “optimise IT systems across the entire financial value chain, from data management to reporting, including critical front, middle and back office processes”.
Announcing the deal, NeoXam says the anticipated addition of over 150 employees from EZOPS’ offices in New York, New Jersey, Dublin and Delhi will help drive the company’s growth in the US, Ireland and India.
“We will leverage our complementary geographical presence to accelerate the combined group’s expansion and enhance our global client service offerings,” comments Florent Fabre, CEO of NeoXam.
Further terms of the deal have not been disclosed. EZOPS’ only funding round to date closed at $10 million in January 2019, with Credit Suisse NEXT Investors as the lead investor, according to Crunchbase.
