Following its acquisition by Misys, capital markets software vendor Sophis will broaden its services to customers, including focusing on risk aggregation solutions, Sophis CEO Pascal Xatart said.
"With much broader asset class coverage, we'll find out if we can provide more risk aggregations. That is something our customers are looking for," Xatart said in an interview with Wall Street & Technology.
On Friday, UK technology provider Misys announced it would acquire Sophis from principal shareholder Advent International for $591.9 million, turning the company into the leading application software and services provider in the capital markets.
"We had received a tremendous amount of interest from other vendors and financial firms in the industry," Xatart noted."In the past few years, Sophis did a good job of transforming itself from a family-owned business into a scalable business.
"We have had a lot of good momentum in the buy-side industry," he added, speaking from Sophis's offices in Paris, France.
Xatart said the acquisition will be particularly beneficial to Sophis's customers since there is "almost no overlap" between the vendor's buy-side strengths and Misys's sell-side expertise.
"We are very complimentary. It means our customers will have an even larger partner they will talk to and will have more services."
Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio