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Asset Control, the leading provider of Centralized Data Management™ (CDM) solutions to the financial services industry, today announced that Fidelity Ventures has taken a majority investment in the company.
The company also said that Phil Lynch, former CEO of Reuters Americas and a Venture Partner with Fidelity Ventures, will succeed Ger Rosenkamp as CEO and President. Lynch will focus on leading the company’s next phase of growth. Rosenkamp, who founded the company in 1991 and has led the firm to its current leadership position, will continue to serve Asset Control as Chairman of the Board. Additionally, in a concurrent move, Asset Control has acquired Vancouver-based TAP Solutions Inc., a company specializing in data accessibility software for financial services firms leveraging the Microsoft® technology suite, to extend its market solutions to firms of all sizes.
“The timing for this investment with Fidelity Ventures is right, given the rapidly growing importance of data management,” said Ger Rosenkamp. “I’m proud of the Asset Control team and their accomplishments. This is an important step for our impressive client base, our employees, and the company. We didn’t need to raise equity capital, but believe Fidelity Ventures is the ideal investment partner to accelerate Asset Control’s market leadership and enable us to scale the business to the next level I’m delighted to find an industry veteran as qualified as Phil Lynch to succeed me as CEO.”
Anne Mitchell, Partner with Fidelity Ventures, who will join the Asset Control Board of Directors added, “Asset Control has a tremendous and near-term opportunity for growth and we will leverage our global go-to-market resources to help make this a reality. Building on our existing relationship with Phil, and working in partnership with him, Ger, and the management team, we believe Asset Control is well-positioned to extend its leadership within financial services clients worldwide.” Simon Clark, Partner with Fidelity Ventures, will also join the Asset Control Board of Directors.
NEW LEADERSHIP STRUCTURE
Phil Lynch is an accomplished chief executive with significant experience within the financial services sector. As CEO of Reuters Americas Inc. from 2001 to 2005, Lynch helped build a firm with an expansive base of customer-focused financial services information and transaction services. As a Venture Partner with Fidelity Ventures, he identified Asset Control as the most promising emerging financial technology company.
According to Lynch, “The global marketplace for data management systems is growing quickly and Asset Control is uniquely positioned to take advantage of this opportunity. When it comes to customer satisfaction, Asset Control is a company that stands out and it has developed a solid reputation as a company that delivers. It’s very important to me to build on that.”
ACQUISITION STRENGTHENS MARKET POSITION
Through a concurrent move to build out its leadership position, Asset Control acquired Vancouver-based TAP Solutions, a Microsoft® Gold Certified partner. This will enhance Asset Control’s comprehensive product line with a very appealing option for financial services firms of all sizes. TAP’s flagship solution, TAPMaster™, offers a modular product built on state-of-the art Microsoft® technology to provide plug-and-play accessibility to a broad array of data vendors and business application providers.
According to Rosenkamp, “The acquisition brings together the industry’s best data management solutions and greatly strengthens our position as the leading provider of Centralized Data Management solutions to buy and sell-side firms, large and small, as well as market infrastructure companies around the globe. With the addition of TAPMaster™ to Asset Control’s existing enterprise-wide data integration approach featuring flexible and reliable software solutions, we now offer a complete product suite that spans the requirements of all market segments.”
