Axioma Inc. has completed the acquisition of the risk-reporting unit of back-office investment services provider ConceptONE.
New York-based Axioma provides portfolio optimization solutions for portfolio managers. Axioma said the addition of ConceptONE's risk-reporting unit will allow it to provide risk-reporting services to a broad range of clients, including small hedge funds and large asset managers.
Terms of the transaction were not disclosed.
Axioma acquired the regulatory-reporting unit of ConceptONE in March. The ConceptONE units acquired by Axioma will operate as Axioma Reporting Solutions.
Bryan Cave LLP served as legal counsel to Axioma. Macquarie Capital served as financial adviser and Royer Cooper Cohen Braunfeld LLC provided legal counsel to ConceptONE.