Cathay Capital, along with Bpifrance, has agreed to purchase a majority stake in French financial software firm NeoXam from BlackFin Capital Partners for an undisclosed sum.
Based in Paris, NeoXam provides financial software solutions and services to over 150 customers in 25 countries. The firm has 14 offices across the globe.
The company is specialized in providing solutions and services for the buy-side and sell-side.
From October 2014 to June 2015, NeoXam acquired three software companies, including Density Technologies, Nexfi and SmartCo.
Density Technologies is specialized in offering front-to-back office software solutions, while Nexfi is a software provider specializing in complex fund management, and SmartCo is an enterprise data management software company.
Cathay Capital partner Hervé Descazeaux said: “Through this partnership, our platform bridging three continents and the strong international experience of our teams, we hope that NeoXam can continue its impressive growth rate, and we can facilitate investment into research and development, so they can expand their offering.”
NeoXam, which serves more than 10,000 users, processes over $15 trillion worth of assets per day.
NeoXam’s revenue was increased by more than 25% in the last two years, as well as signed more than 32 deals and hired over 150 employees.
The acquisition will help NeoXam to expand the market and technological assets of its data management, portfolio management system and back office solutions.
The deal will also help Cathay Capital to extend its presence in crucial markets such as APAC and the US.
NeoXam said the deal is expected to complete by the end of this month.
NeoXam founder and CEO Serge Delpla said: “Since 2014, we have been creating with BlackFin a new leader, aggregating together established software and seasoned teams with fast-growing French gems. This audacious and entrepreneurial partnership has been fully successful.
“Now, Cathay Capital’s proven track record and Bpifrance’s institutional strength will be pivotal in providing us with the resources needed for NeoXam’s expansion plans.”