Amundi, Europe's largest asset manager, has announced the acquisition of German technology company Aixigo for €149 million.

The strategic move will allow Amundi to accelerate the deployment of innovative technological solutions to distributors of savings products.

Aixigo has developed a highly modular service offering for wealth managers and private banks, with an API-based platform enabling rapid integration of new features. By combining Aixigo's capabilities with Amundi Technology's existing portfolio management, employee savings, and wealth management solutions, the combined entity aims to provide clients with an even broader, more flexible and scalable service offering.

"Institutions distributing saving products are increasingly looking for solutions and external partners that can improve their operational efficiency and enhance the quality, speed and personalisation of their advice and services," said Valérie Baudson, chief executive officer of Amundi. "This transaction will enable us to roll out new innovative services and play a more active role in the evolution of the financial advisory and wealth management sector."

Guillaume Lesage, chief operating officer at Amundi, added: "Thanks to this new development, we will accelerate the deployment of Amundi Technology's services to private banks and wealth managers, with a more comprehensive, flexible and scalable offering that will allow us to address an even wider range of business cases."

The acquisition is expected to generate a return on investment of nearly 10 per cent after 3 years, rising above 12 per cent by year 4, according to Amundi. It will also expand the company's client and geographic coverage through Aixigo's existing base in Germany, Switzerland and the UK.

"Joining Amundi Technology presents Aixigo with a unique opportunity to expand our service offerings and leverage Amundi's expertise, allowing us to become the undisputed European leader before gradually extending our reach into Asia," said Arnaud Picut, chief executive officer of Aixigo.

The transaction combines the strengths of the two companies, creating what Amundi describes as a "wealthtech powerhouse" poised to drive innovation in the financial advisory and wealth management industries.

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