The deal involved the purchase of 76 percent of the capital of Finantech - Sistemas de Informação, SA, from the company's three founding shareholders (João Marta da Cruz, António Jesus Ferreira and António Silva) who will remain ahead of the company's destinations, he says. Asseco PST in a statement, without indicating the amount of the transaction.
Finantech will continue to operate in the market with its brand and its consolidated network of partners, which include, in particular, companies such as Oracle, Microsoft, Six Group, Reuters, Morningstar and Euronext.
With more than 20 years of experience in creating solutions for different areas in the capital market, Finantech's history goes back to September 1994, with the creation of a startup already dedicated to the development of software for trading on the stock exchange .
For the CEO of Asseco PST, Daniel Araújo, this operation is part of the "strategic objectives of growth and diversification" that the company has sought to implement in the last two years in the various geographies where it operates.
"This is the culmination of a negotiation process that allows us to assume a controlling position in a reference company and a market leader in its area of activity", said the manager.
At the base of this acquisition, Daniel Araújo also explains, is the "potential for cross synergies" between Asseco PST and Finantech, with a great complementarity in the offer of the two companies.
"A reality that, we are certain, we will deepen and capitalize on from now on," said the official.
Finantech currently has more than 90 employees and around two dozen customers in Portugal, including the five largest banking groups operating in the Portuguese market, and it is also present in Angola and Cape Verde, where it has 10 customers in the set of these two geographies .
In 2020, it recorded a turnover of around five million euros.
For the chairman of the Board of Directors of Finantech, João Marta da Cruz, this transfer of the majority of the capital is also an opportunity for growth for the company.
"We are now better prepared to reinforce the offer to customers, solidify the leadership in this business segment and benefit from the know-how and experience, nationally and internationally, of a large organization such as Asseco PST", stressed the manager.
Present in eight markets on three continents, Asseco PST is currently a "reference in information systems applied to the banking sector", with more than 60 banks in its client portfolio, the statement reads.
In addition to its presence in the universe of Portuguese-speaking markets, including Portugal (where it has its headquarters), Angola, Mozambique, Cape Verde, São Tomé and Príncipe and Timor-Leste, it is also present in Namibia and Malta.
Made from Madeira, where it was born more than 30 years ago and its software development center is still installed today, it is a traditionally exporting company, with 80 percent of the revenue to be generated outside Portugal.
Last year, Asseco PST closed the year with a turnover of 37.4 million euros, employing around 420 employees, of which 85 percent are in Portugal.
Since 2015, it has been part of the multinational Asseco Group, one of the largest European software suppliers that is listed on the Warsaw, Tel Aviv and Nasdaq stock exchanges in New York.
