French asset manager Amundi buys wealthtech Aixigo for €149m
Amundi, one of the largest asset managers in Europe with €2 trillion in AUM, has acquired Aixigo, a digital financial consulting software provider based in Aachen, Germany, for €149 million.
Amundi acquires Germany’s Aixigo for €149m
The transaction will see Aixigo’s API-based wealth management platform and 150 team members join the Paris-headquartered asset manager’s Amundi Technology business.
Aixigo’s platform, Aixigo:BLOXX, currently enables over 20 clients in Germany, Switzerland and the UK, including BNP Paribas and Commerzbank, to onboard clients, build and manage allocations, place orders and generate reports.
Amundi states that its latest purchase will “create significant value thanks to the business growth potential, as well as the revenue and cost synergies”, with an above 12% return on investment forecast after four years.
The company has provided portfolio and wealth management and asset servicing functions through its technology business since 2021.
These functions are spearheaded by Amundi Technology’s Alto solution, and are currently used by over 60 clients across the investment and savings industries in Europe and Asia.
Valérie Baudson, CEO of Amundi, says the addition of Aixigo has “further strengthened” these functions and will create “significant value for our clients, partners and shareholders”.
“Thanks to this new development, we will accelerate the deployment of Amundi Technology’s services to private banks and wealth managers, with a broader, more flexible, more scalable offering that will enable us to respond to an even wider range of business cases,” adds Amundi’s COO Guillaume Lesage.
For Aixigo, CEO Arnaud Picut says the acquisition presents “a unique opportunity to expand our service offerings and leverage Amundi’s expertise”, with plans to “gradually” extend its reach into Asia.
