Universal Investment has acquired Frankfurt-based IT service provider for financial companies, labs, from its former owner, Lupus alpha Asset Management AG - likewise headquartered in Frankfurt.
labs will continue to operate as an independent company under the 'UI labs' brand.
For Universal Investment, the acquisition of the IT data specialist - which focuses on front-office and data solutions for financial companies - is another step towards becoming the leading European fund-service platform for all asset classes. In doing so, the company will round off its 360-degree portfolio for institutional investors, asset managers and fund initiators.
labs and Universal Investment will jointly step up their marketing of integrated front-office solutions based on the Software-as-a-Service model for asset managers and institutional investors with in-house portfolio management. This could include e.g. inventories management or a decision-making tool as a portfolio-management system with integrated pre-trade investment-compliance monitoring.
labs' co-founder and managing director, Matthias Biedenkapp, will continue to run the company, and will be joined by Universal Investment board member and head of Sales & Relationship Management, Katja Müller, as co-managing director.