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Solactive completes Primervoto acquisition

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Index provider Solactive has completed the acquisition of Primervoto, its long-standing technology partner.

The transaction was closed on the 29 of March 2018, and sees the full integration into Solactive AG of a team of 38 technology specialists, based in Berlin.
 
The firm writes that Primervoto team has played a key part in Solactive’s success story as it has been instrumental to the delivery of highly scalable IT-solutions for real-time calculations of financial indices since 2010. The financial terms of the transaction remain undisclosed.
 
Steffen Scheuble, CEO of Solactive AG, says: “With this acquisition, we are once again demonstrating our commitment to stay ahead of the game. Bringing our technology team fully into the Solactive family will allow us to align development specialists even more closely with business teams, and create the most effective and efficient development process possible. As our Client’s business becomes more and more technology dependent, it is crucial that we act accordingly to drive the technology agenda ourselves.” 
 
Markus Grossmann, CEO of Primervoto GmbH says: “This is a significant step forward for Primervoto and is a credit to the extraordinary hard work and quality that the team have consistently delivered. It provides a platform for further investment and development, and is an exciting opportunity to grow the business together.”  
 
The firm writes that the delivery of high-performing, resilient and scalable platforms is its speciality and will be further enhanced through this acquisition. “Combining in one organisation the strengths of a technology powerhouse, with that of an Index Engineering specialist provide the foundations for sustained, innovative growth. Solactive is committed to bolster and expand its Berlin team with continuous investments, ensuring that it remains at the forefront of technology.”
 
Solactive writes that having started out as a small index shop in 2007, it has managed to carve out its own niche against larger competitors and establish itself as a key player in the indexing business. Solactive calculates today more than 5,500 indices for over 400 clients globally, with approximately USD200 billion invested in financial products linked to its calculated indices, including 350 ETFs.
 

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