Odyssey Acquires CAfIT, the Specialist Provider of Front Office Fixed Income, Derivatives & Balanced Fund Software Solutions to Global Asset Managers

21/05/2007 - 12:29

Odyssey Financial Technologies, the leading provider of private
banking & wealth management software solutions, today announced the
acquisition of CAfIT, a leading specialist provider of Fixed Income,
Derivatives & Balanced Fund solutions for global asset management
institutions.

Odyssey's acquisition of CAfIT considerably reinforces Odyssey's
solution set for asset management. It positions Odyssey as the leading
vendor of a single front/mid-office systems platform applicable
throughout the entire investment and wealth management sector. Odyssey
will now be able to service an increasing number of asset management
organisations globally by leveraging the combined strength of the
existing and acquired business, providing further growth
opportunities. Additionally, this acquisition allows Odyssey to
strengthen its position considerably and better serve the requirements
of the Institutional and Funds markets. The CAfIT product set will
continue to be available as a stand-alone solution to institutional
asset management organisations, and the new functional coverage will
be integrated into the Odyssey "Wealth & Asset Management Platform"
and will be made available to existing Odyssey customers as add-on
components.

Antoine Duchateau, CEO of Odyssey says: "CAfIT's acquisition gives
us the possibility to offer a wider and more sophisticated range of
functionalities to our customers. Evolved functions such as decision
support, sophisticated solutions for risk and complex performance
attribution as well as full instrument coverage are especially
relevant for our existing Asset Management customers but also
increasingly applicable across the Private Banking and Wealth
Management sectors."

"By acquiring CAfIT, Odyssey is extending its market-leading
position as a private banking and wealth management solutions provider
into the institutional asset management area. This will allow us not
only to provide a market-leading front-office solution to this sector,
but also provide sophisticated decision support, analytics, risk, and
performance attribution components to existing customers of Odyssey's
portfolio management solution."

Raquel Elias, CAfIT's Commercial Managing Director says: "This is
an exciting move for CAfIT and we are delighted to become part of
Odyssey Financial Technologies. Our existing customers will without
doubt benefit from the combined strength of the Odyssey and CAfIT
Research and Development teams, matched by Odyssey's corporate
strength and extensive global support network. The combination of
Odyssey's product range and the proven CAfIT solution creates a
powerful new Front Office solution set for portfolio management,
enabling us to reach out to new markets, as well as improving the
service to our existing customer base."

CAfIT's customers will also have the opportunity to take advantage
of a wider range of investment management solutions available through
Odyssey Components and the market-leading Relationship Manager and
Portfolio Manager Workstations, including workflow integration and
enterprise data management.

Odyssey's existing asset management customers will be able to
benefit from new and more sophisticated portfolio management
functions, and the customer base as a whole will have access to
advanced features that are increasingly being implemented in the
wealth management industry.

Odyssey's solutions provide the wealth management technology
market with a unique degree of functionality: its components can be
deployed on a single scalable platform in a wide range of combinations
to address the challenges and business goals of leading global
companies and regional financial institutions. CAfIT has been
providing advanced software solutions to leading international asset
management institutions for over 7 years and more recently to the
specialist and alternative investment markets, principally in the UK.
With the acquisition of CAfIT, Odyssey is focusing on new
opportunities for increased scale & global reach.

About CAfIT

CAfIT was founded in 1997 by Jem Tugwell and Raquel Elias,
recognising a niche market opportunity for dedicated Fixed Income,
Derivatives and Balanced Fund software. The CAfIT team comprises
experts across all areas of Fixed Income and Derivative applications,
majoring on the buy side, matched by extensive state of the art
technology and implementation skills. CAfIT's emphasis is on
developing scalable solutions that help businesses to streamline the
investment process.

CAfIT's product suite is firmly aimed at providing added value to
the Front Office by delivering leading-edge functionality for the key
aspects of portfolio management (portfolio modelling, trade
construction, risk, performance and attribution). It provides a
cohesive and consistent solution that allows for investment decisions
to be modelled, stress tested, and measured in the same way.

The current product suite, available as individual components or
as an integrated solution, includes the flagship FIPA portfolio
analytics and modelling system; APRE - for sophisticated performance,
risk and attribution across multiple asset types and strategies; REMIA
- for comprehensive stress testing and scenario analysis; and the
Analytics Engine - a centralised analytic, exposure and valuation
calculation engine with comprehensive asset class coverage, allowing
enterprise-wide distribution of consistent, accurate information.

For further information, please visit: http://www.cafit.co.uk.

About Odyssey Financial Technologies

Odyssey is an industry leader in the global provision of wealth
and asset management solutions and services. More than 180 financial
institutions in 30 countries have chosen Odyssey solutions; of the top
25 European banks, 15 are Odyssey customers.

Odyssey focuses on providing a comprehensive range of components
for portfolio management, advisory, customer relationship, compliance,
risk, and analytics. The components are deployed on a single scalable
wealth and asset management platform, facilitating the enterprise-wide
implementation of solutions and data management.

Founded in Luxembourg in 1995, Odyssey today has offices in the
key financial centres, including London, New York, Singapore, Zurich,
Frankfurt, Brussels, Geneva, Madrid and Tokyo. Odyssey's operational
head office and main development centre is located in Lausanne,
Switzerland. Throughout this knowledgeable network Odyssey employs
over 420 professionals.

For further information, please visit:
http://www.odyssey-group.com.