CapMan Acquires SimCorp's IT2 Treasury Business
SimCorp Treasury Solutions has been bought from SimCorp A/S by the Nordic-based private equity investor, CapMan. SimCorp A/S has been increasing its focus on the asset management business and considered the treasury business, which represents approximately 5% of their sales, to be non-core. As part of the deal, the current IT2 management team will continue their delivery of the business strategy and will be offered the opportunity to become shareholders in the company. The existing management team will work closely with the newly appointed CEO, who will be announced within the next few weeks.