Misys Acquires Almonde
Misys Banking Systems has acquired regulatory risk management software firm Almonde for €15m. The acquisition will bring together Almonde’s asset and liability management (ALM) and regulatory compliance solutions (Basel II, IAS and FTP) with Misys Banking Systems’ existing risk solutions for limits management, market, operational and credit risk, collateral management, securitization and economic capital as well as its core banking, trading and back-office platforms used by over 1400 clients worldwide. Misys and Almonde have been working together closely for the past year and had already formed a strategic partnership to provide financial institutions with comprehensive Basel II and ALM solutions. The acquisition was the next logical step in building on the close partnership, according to Michel van Leeuwen, CEO, Risk Management, Misys Banking Systems.