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Kiumars Hamidian, Managing Partner BearingPoint (Photo: Business Wire) |
KUALA LUMPUR, Nov 4 -- Management and technology consultancy BearingPoint will sell its independent Regulatory Technology (RegTech) business unit, a regulatory reporting software solutions provider to Nordic Capital.
According to a statement, Nordic Capital is a leading private equity investor, developing technology companies and enabling global growth.
The transaction is the result of a strategic process to enable accelerated growth for RegTech as a software company with specialised professional and managed services along the regulatory value chain.
With Nordic Capital as the new owner, the RegTech business will boost its leading market position and push ahead with international expansion against the backdrop of regulatory harmonisation.
BearingPoint will continue to serve as a strategic consulting partner and retain a minority stake in RegTech.
The current RegTech management team will remain and work in close partnership with Nordic Capital. RegTech’s customers will not be impacted by the transaction.
The closing of the transaction with Nordic Capital is subject to customary regulatory approvals.
The financial terms of the transaction were not disclosed. The entire transaction has been managed by the M&A practice in BearingPoint’s Capital unit.
-- BERNAMA
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