Business
Acquisition of Object+
Acquisition of Object+.
About this update from Krm22 Plc
[{"type":"text","content":"\n \nRNS Number : 5795A KRM22 PLC 30 May 2019 \n\nKRM22 plc \n(\"KRM22\", the \"Group\" or the \"Company\") \nAcquisition of Object+ \n \nKRM22 plc, (AIM: KRM) the technology and software company focused on risk management in capital markets, is pleased to announce that it has entered into an agreement to acquire Object+ Holding B.V. (\"Object+\") (the \"Acquisition\"). Completion of the Acquisition is expected to take place within three Business Days of the date of signing the agreement.\n \nObject+ is a risk management and post-trade services technology business focused on capital markets. Object+ is headquartered in the Netherlands with offices in Amsterdam and Chicago. The Acquisition is in line with KRM22's investing policy and strategy and complements the capital markets technology already available on KRM22's Global Risk Platform.\n \nBackground to the Acquisition \n \nObject+ provides market risk management technology that includes real-time Profit and Loss (\"P&L\") and margin management as well as pre-trade order limit management (\"OLM\"). Object+'s post-trade processing services support \"gateways\" or connections to over 30 exchanges across the globe. Object+ provides these products and services to banking and trading customers based in Europe, North America and Asia. \n \nThe CEO, Martin van Aalderen, has over 20 years' industry experience and joined Object+ in 1999. He will remain with the KRM22 Group as Managing Director - Market Risk. \n \nBenefits of the Acquisition \n \nKRM22 already offers post-trade market risk solutions through previous acquisitions and partnerships. The acquisition of Object+'s technology products will expand KRM22's market risk solutions to pre-trade and at-trade with direct connectivity to major global exchanges. In particular, the Acquisition will bring to KRM22:\n· The ability to share data between systems and for customers to remove the need for reconciliations, thereby reducing the cost and complexity of their risk management;\n· A team of subject matter experts in real-time trade processing;\n· A complementary customer base; and\n· Addition...