Financial data company FE fundinfo, active in Luxembourg via its subsidiary Fundsquare, acquires German fintech Dericon. This move gives the firm’s clients access to another 50 million customers through the Sparkassen Group.
The acquisition, which is still subject to regulatory approval from Germany’s financial supervisor Bafin, marks a step in FE fundinfo’s concerted effort to expand in the region of Germany, Austria and Switzerland. The Frankfurt-based Dericon brings to the table its web-based solution Dericon WMS, designed to help clients meet regulatory obligations in the EU. It also supports the compliant structuring of financial products.
“FE fundinfo is on a mission to further its position as a long-term strategic partner to the investment management community. The team at Dericon has built a solid business, and through our partnership we further bolster our commitment and capabilities in Germany by more clearly connecting investment product information to distributors such as banks and savings banks for our mutual and future clients.”
Liam Healy, CEO at FE fundinfo.
The deal has the added benefit of connecting FE fundinfo’s asset management clients to Germany’s largest distribution channel, through the Sparkaassen Group. This network of public banks has an estimated 50 million customers. As for Dericon, this acquisition is intended to bring stability by allowing the company to benefit from FE fundinfo’s long-term shareholder base. This would help Dericon to further develop its product, which it aims to position as the best-in-class independent platform in the B2B securities industry.
In 2022, FE fundinfo acquired Luxembourg-based fund registration provider Fundsquare, created by the Luxembourg Stock Exchange. Following that deal, the financial data company established a local centre with over 100 fund and regulatory experts.
