Our Tech M&A webinar on Thursday spotlighted some transactions in the Financial Services sector. Here is an excerpt from the material with extension:
As a relatively relevant October Vertical Market deal we chose SASGAS, AKA Shanghai Advanced Software, which provides financial regulatory compliance solutions for foreign banks that have operations in China. The Financial Services arm of Holland-based global giant Wolters Kluwer made the acquisition. Its positioning as a one-stop shop for risk management solutions in the Financial Services sector fits SASGAS well, since it mitigates the risks of regulatory compliance with Chinese authorities.
The 20 employees of SASGAS will join the 20,000 at Wolters Kluwer in continuing the big companys ambitious expansion into China that started early, over 25 years ago. Chinese market, and international regulatory compliance: this Financial Services transaction touches both trends.
We also highlight a divestiture with Xerox ACSs pickup of the 1500 employee US payment processing operations division of Canadas Symcor. More financial services again, outsourcing this time, and now in combination with ACSs other business process offerings. Trends are integration of services, consolidation and the continuing move of institutions away from paper.
Other notable Financial Services activity includes State Streets purchase of 120 employee Swiss firm Complementa, Charles Schwabs buy of another regulatory specialist, Chicagos Compliance11, and scandal-ridden MF Globals announcement, at least, that it bought Strategy Runner, also of Chicago, for just under $4M.
The webinar will be rebroadcast this Thursday. Register at: https://mergersandacquisitions.webex.com/mw0306ld/mywebex/default.do?siteurl=mergersandacquisitions