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Austrian data management vendor AIM Software has reached an agreement to acquire New York-based entity data management vendor Joss Technology, according to a statement from AIM. The terms of the acquisition have not been disclosed.
Joss Technology is known for its Entity Data Management System (EDMS), which uses a fuzzy logic algorithm and an intuitive user interface to help financial firms ensure compliance, reduce risks and cut costs, the statement says. Once the transaction is complete Joss Technology will operate as part of AIM Software North America.
AIM Software currently offers solutions for reference data, securities, portfolio pricing and corporate actions processing, and the Joss acquisition will add solutions geared toward data related to entities like counterparties, clients and issuers to that lineup.
“With this acquisition, AIM Software will offer the most comprehensive suite of business applications in data management,” according to the AIM statement.
“Given the unprecedented interest in the legal entity data area, we are excited by the opportunity to expand our offering for our large customer base, as a result of Joss joining us,” says Martin Buchberger, CEO of AIM Software, in a prepared statement.
As FTF News previously reported, Joss partnered with legal entity data provider OpenCorporates in late October, in order to provide data management tools and workflows for key securities operations.
Need a Reprint?- Read More:
- AIM Software,
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- Joss Technology,
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