Objectway acquires German core vendor Die Software Peter Fitzon
Italian wealth management vendor Objectway has acquired Die Software Peter Fitzon, a German core banking provider.
Objectway CEO Luigi Marciano and Die Software founder Peter Fitzon
Die Software describes itself as a “leading provider” for German-speaking Europe, with more than 35 years of market presence.
Its clientele revolves around private, retail, and central banks in Germany, Austria, and Switzerland. The firm’s OBS platform has seen users including Sberbank Switzerland and Kleinwort Hambros.
Objectway says the acquisition adds a “solid and comprehensive” core banking platform to its suite of products and services. Financial details are undisclosed.
The vendor says a combined platform can offer an “open, modular, end-to-end banking suite” geared to support the digital transformation of private banks, retail banks, and wealth and asset managers.
The deal brings Objectway’s client base above 200 companies in EMEA, and the firm expects to reach revenues in excess of €100 million.
“The Die Software team has done a fantastic job in developing a world-class banking platform with a loyal client base,” says Luigi Marciano, CEO of the Objectway Group.
“We aim at creating a unique and complete banking suite that combines Die Software solutions with Objectway’s cutting-edge technologies.”
Objectway’s last acquisition occurred in January 2019, when it bought up Algorfin, the software and services division of Milanese bank Unione Fiduciaria.
Klaus Friese, Die Software’s managing director, says the two firms have a “common DNA”. Friese notes Objectway’s international presence as a plus point, something which he hopes can help Die Software expand geographically.
