Infront will assume the role as owner and strategic partner to VWD from The Carlyle Group (Carlyle), a global investment firm. Infront was founded by CEO Kristian Nesbak and CIO Morten Lindeman in 1998 and is listed on the Oslo stock exchange. Together, the companies will create a leading European full-service provider of real-time market information and portfolio management solutions to financial professionals with ~3,600 diversified customers and ~90,000 professional users.
“We are two highly complementary businesses in terms of customers, products and geographical strongholds. Together we will reach an even wider customer base and explore significant cross- and upsell opportunities,” said Kristian Nesbak, the CEO and co-founder of Infront.
VWD's comprehensive offering covering data and feed, portfolio and advisory, regulatory and calculation and publication and distribution solutions are complemented by Infront’s best-in-class market data, trading and analytics solutions. VWD will continue to pursue its unified platform product strategy with Infront adding a highly sophisticated front-office market data and trading product suite. Customers of both VWD and Infront will benefit from the two companies combining their sector-defining capabilities across regulation, private wealth management and market data.
“Infront is an ideal partner for VWD. We are delighted to see that Infront will allow VWD not only to continue but also to accelerate its successful strategic development. We would like to thank VWD’s management team for their trust and cooperation during our successful partnership and wish VWD and Infront continued success,” said Thorsten Dippel, Managing Director on the Carlyle Europe Technology Partners (CETP) advisory team.
VWD's management team will be fully integrated in the new joint executive team and thereby will continue to be the relevant contacts for all VWD customers and business partners.
“This combination will make us an even stronger partner for our customers who will benefit from a more diversified solutions offering. VWD will be a significant part of the combined entity and will continue to fulfil all customer requests and be on the ground every day in all our core markets,” said Shiva Ramabadran, CEO of VWD.
The completion of the transaction is subject to regulatory approval, the parties expect to close in the second quarter of 2019.