Alpha strengthens product offering with acquisition of Obsidian, a leading cloud-based SaaS business
Obsidian brings a highly complementary suite of financial service software products including advanced business intelligence, client portals, reporting, and automated subscription/KYC management. This strategic acquisition further strengthens the Alpha Data Solutions (ADS) business.
Obsidian provides specialised software products to the investment management industry. It was founded in 2015 with the aim of unlocking the potential of operational data in financial services by leveraging the latest in cloud computing and modular software design principals. Its established product suites include advanced business intelligence for sales and investment data, client portals, fund and client reporting, and an automated subscription/KYC management module.
Obsidian’s cloud framework that ties the suites together was recognised as the Best Cloud Solution, and Most Disruptive Technology Solution in 2019.
Obsidian has offices in the UK and in Serbia and its team of 14 primarily consists of computer scientists with specialised industry knowledge and product delivery expertise. Obsidian has approximately 30 clients across its product suite.
The addition of Obsidian provides complementary, technology-focussed products to the ADS proposition. The acquisition will expand the ADS 360 SalesVista product with additional reporting capability, adds a highly skilled technology development team with proven financial sector experience and expands Alpha’s North American client base.
I am delighted to welcome the Obsidian team to the Alpha Group. This acquisition enhances and extends the Alpha Data Solutions’ 360 SalesVista product offering, for which we continue to experience strong client demand. It also strengthens the Group’s work with hedge fund clients, brings Alpha a highly skilled product development team and creates a strategic growth opportunity with a recurring revenue model. Following our recent successful Axxsys acquisition, this transaction demonstrates Alpha’s focus on highly selective bolt-on acquisitions, as well as continued organic expansion globally.Euan Fraser, Alpha FMC Global Chief Executive Officer
We are very excited at this significant milestone as Obsidian joins forces with Alpha. We have successfully grown the Obsidian business in recent years developing awarding winning financial products and, having collaborated with Alpha’s product development this year, I believe that being part of the Alpha Group is the very best place for us to achieve our corporate growth ambitions leveraging Alpha’s leading market position in the wealth and asset management sector.Lazar Radenovic, Obsidian CEO