Tradar, a provider of portfolio management and accounting solutions to the buy-side globally, has acquired the business line and assets of Odyssey InvestmentManager from banking software systems specialist Temenos.
In an all-cash transaction, Tradar said that its acquisition will see the operations and ongoing development of Odyssey InvestmentManager integrated into its core business.
Further details of the acquisition were not disclosed.
Tradar said Odyssey InvestmentManager will provide portfolio modelling, performance and attribution, risk and exposure reporting and scenario analysis. This functionality will be integrated with Insight’s core portfolio management and accounting system.
Tradar CEO Gerry Gualtieri said this is a highly logical move from both a product and corporate perspective, and one that will yield significant benefits for clients and prospects. They believe there are significant opportunites to grow the core InvestmentManager client base and also benefits of leveraging functionality for their existing clients.
"The integration with the InvestmentManager components will form a particularly attractive proposition to that sector, as well as meeting the growing needs of their existing client base as they continue to invest in the product and service to deliver outstanding functionality for clients," Gualtieri added.