Advised Odyssey Financial Technologies on its acquisition of Xeye, a provider of wealth-asset management platforms
Jan 2008
  • Sector: Fintech, WealthTech & InsurTech
  • Deal Type: Strategic Deals; Venture Capital Exits
  • Engagement type: Buyside
  • Size: <$200m

We are pleased to announce that Arma Partners has acted as exclusive financial advisor to Odyssey Financial Technologies, S.A., the leading provider of wealth and asset management software solutions, on its acquisition of Xeye, Inc., a privately-held supplier of advanced solutions to top wealth management institutions, headquartered in Mississauga, Canada. Joining Odyssey will accelerate Xeye’s entry into global markets and increase investment in research and development. Odyssey’s solutions are unique in the wealth management technology industry: its components can be deployed in multiple combinations on a single scalable platform to address the challenges and business goals of leading global companies and regional financial institutions. This acquisition considerably enlarges Odyssey’s CRM and Advisory offer for the wealth management industry and substantially re-enforces its commitment and presence in the North American market.

Terms of the transaction were not disclosed.

– Xeye is a provider of advanced solutions to top wealth management institutions in the North American market

– Xeye’s clients range from wealth managers, private banks and trusts to financial planners and broker dealers

– Xeye’s core solution, WealthManager, is an enterprise-grade, full Java Oracle SOA platform for the front-end wealth management market, with a strong position in the CRM / advisory retail brokerage arena

– Leading provider of wealth and asset management software solutions to financial institutions

– Key customers include ABN Amro, Barclays, Deutsche Bank, Dresdner and UBS

– Odyssey is privately owned by management and venture capital investors

– The company was founded in 1995 and is based in Luxembourg

– The combination expands Odyssey wealth-asset management platform and creates a sizeable North American operation, whilst Odyssey accelerates Xeye’s entry into global markets

– The acquisition enlarges Odyssey’s CRM and advisory offer for the wealth management industry; Xeye’s platform complements Odyssey’s strengths in the HNWI / private banking domain

– Xeye’s acquisition is in-line with Odyssey’s objective of being the leading global provider of the wealth and asset management integrated front-office application desktop

– Xeye’s customers will also be able to take advantage of a wider range of investment management components including workflow integration and reference data management

– Arma Partners was engaged by the Board of Odyssey to help them identify which of three short-listed acquisition targets the company should engage with

– In conjunction with Arma, Odyssey identified a list of detailed acquisition criteria (the “acquisition matrix”) to evaluate the attractiveness of each acquisition target

– Arma negotiated upfront a detailed term sheet for the acquisition of Xeye by Odyssey, upon which Odyssey was granted exclusivity to pursue a transaction on the agreed terms

– Arma participated actively in the process from coordinating due diligence to assisting in the negotiation of the deal documentation