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The transaction will combine InvestCloud’s digital platform with the trading and accounting systems from Babel.
Los Angeles-based fintech upstart InvestCloud Inc. is acquiring London-based Babel Systems Ltd. for $20 million and plans to link its digital platform to Babel’s trading and accounting capabilities. InvestCloud’s digital platform targets wealth managers with client portals, mobility and advisor portals, and offers allocators (multi-family offices, pensions and endowments), and managers of multi-asset-class, multi-strategy portfolios...
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