Futurimpresa backs Objectway with €10m

The company intends to direct the funding towards the acquisition of AMS Group, a firm providing outsourcing services to asset management companies and financial intermediaries. AMS Group reports a €15m turnover.

The investment was made through the Finanza e Sviluppo Impresa vehicle, which closed in 2011. Investors in the fund include the Chambers of Commerce in Milano (55%), Bergamo and Brescia (18%) and Como (9%).

Futurimpresa acquires minority stakes in firms based in the Lombardy region with a €10-50m turnover. The fund has a particular focus on "Made in Italy" and technological innovation, and will not use debt in its transactions.

Company
Founded in 1990 and based in Milan, Objectway Financial Software develops and markets Objectway Financial Suite, a software platform for wealth management, mobile banking, investment services and asset managers. The company employs around 450 members of staff and reports revenues of just less than €25m.

Objectway's client base comprises international financial institutions in Spain, Portugal, France, Italy and Ireland – notably including Barclays, Credit Suisse and Allianz Bank.

People
Giuseppe Donvito handled the deal for Futurimpresa.

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• Topics
• Southern Europe
• Technology
• Expansion
• Italy