In an official announcement on 26 August, Infront confirmed that the company has entered into an agreement for the acquisition of Assetmax AG. Through the acquisition, Infront aims to enhance its product offering for wealth management clients across the European region.
Infront noted that the transaction is expected to be completed by the end of September 2022. The mentioned acquisition is subject to customary conditions. Infront provides key solutions to facilitate the financial services industry. The company has almost 500 employees in 11 countries across Europe.
“We are very excited to welcome Assetmax to the Infront family. We look forward to working closely with its founders and wonderful team to continue their impressive organic growth while developing best-in-class solutions for buy-side customers”, commented Zlatko Vucetic, the CEO of Infront. “The Assetmax portfolio management solution will strengthen the Infront Wealth Management suite.”
Acquisitions
The latest announcement from Infront came approximately one month after FNZ, one of the biggest names in the global wealth management industry, acquired New Access. In January 2022, the financial giant, UBS agreed to acquire Wealthfront to deliver digital wealth management offerings to millennial and Gen Z affluent investors.
Massimo Ferrari, the CEO and Co-Founder of Assetmax, believes that the acquisition will drive the growth of the European wealth management industry.
“As part of Infront’s pan-European team, we will be able to both enhance our solution for current customers and introduce the Assetmax solution to new customers. European wealth management advisors need the solutions and data that we can provide together. I’m thrilled to be joining the Infront team at this exciting time for European financial markets,” Ferrari said.
