Financial technology specialist Linedata has acquired Hong Kong outsourcing provider Quality Risk Management & Operations (QRMO).
The deal will enable Linedata to expand its oursourcing business across the Asia Pacific region, while enabling QRMO to benefit from adding a range of new outsourced services from Linedata’s technology solution.
Linedata said the acquisition is part of a targeted strategic plan to develop a wide geographic presence in key markets. In January this year, it bought US-based middle office technology provider Gravitas.
QRMO was founded in 2006 and currently services 30 clients including hedge funds, wealth managers and retail funds. It employs 30 staff in Hong Kong.
Anvaraly Jiva, founder and CEO of Linedata, said: “This is an exciting and powerful addition to the Linedata business, particularly as more and more financial institutions look to outsource and benefit from scalable, best-in-class technologies and services. For more than a decade, QRMO has transformed the operational performance of asset managers across Asia. Integrating these services with our technologies strengthens the value of our offerings to the global financial services community.”