VPS acquires 100% of the shares in Evolution. VPS believes in further growth in the investment funds and asset management industry and will, along with Evolution, offer a competitive and efficient alternative to fund managers and distributors in the Nordic market. The companies have products and services that complement each other and will be able to provide a strong offer to the market. Both VPS and Evolution have recently renewed their respective services and are as such well positioned to meet the requirements of the market.
VPS provides fund services, in addition to registration with VPS, to asset managers and fund distributors. Since 1991, the company has offered specialised services for administration of unit holders and client transactions for both small and large fund companies, including companies with large retail volumes. VPS offers services to the investment fund and asset management industry in Norway and Sweden.
Evolution offers Cairo , an efficient and flexible solution for portfolio management and reporting to all types of asset managers. The company has clients in Sweden and Finland.
Closing will be completed no later than 15 July 2013.
VPS is the Norwegian Central Securities Depository (CSD), offering efficient infrastructure and services for registration of ownership, clearing and settlement of securities in Norway. VPS offers registration services for all major financial instruments in the Norwegian market, including equities, bonds, short-term bonds, primary capital certificates and investment funds. VPS is one of four companies in the Oslo Børs VPS group, which consists of Oslo Børs, VPS, Oslo Clearing and Oslo Market Solutions.
Evolution is a software and service provider to the financial industry in Sweden. The company was established in 2001 and offers efficient solutions and consultancy services to asset managers. The company combines expertise within asset management and IT. Portfolio management software and services is provided together with the wholly owned subsidiary Evolution Financial Services Sweden AB. Evolution’s revenues per April 2013 was SEK 6.5 million with an EBITDA of SEK 1.4 million in the same period.
For further information, please contact:
John-Arne Haugerud, CEO Verdipapirsentralen ASA, tel. +47 901 15 337