Deutsche Börse Group is expanding its offering in the data services space by acquiring Kneip Communication S.A., a leading European fund data specialist. The companies have reached an agreement through which Deutsche Börse will acquire 100 per cent of the Luxembourg-based fund data manager. Further terms of the transaction were not disclosed. The transaction is expected to be completed by the end of March this year.
Established in 1993, Kneip is a recognised leader in fund data management and regulatory reporting solutions for the asset management industry. The company manages investor disclosure and data publication for more than 10,000 funds in over 40 countries, including the production of over 200,000 reporting solutions. Kneip currently services over 30 per cent of EU-based fund ISINs.
This partnership forms the basis for creating a leading fund data hub based in Luxembourg. Kneip will seek to further scale the business and expand its range of services inside Deutsche Börse Group, including data and post-trade services provided by Clearstream. Deutsche Börse also intends to connect Kneip’s services with its established fund services platforms. The focus will be on significantly simplifying the process of data management and services for asset managers and other market participants across the fund ecosystem.
Deutsche Börse Group considers fund services and data to be key areas for future growth. The Group intends to grow its market position organically via further investment in its existing businesses, and through targeted acquisitions. Kneip delivers on these growth areas and will continue to operate as a strong member of the Luxembourg fund services community.
Philippe Seyll, Head of Investment Fund Services at Deutsche Börse Group, said: “We are delighted to welcome this distinguished leader in fund data management for the worldwide asset management industry to our Group. Through Kneip’s global reach and broad range of services, we will be able to further develop our product and service offerings and add value for funds clients at every stage of their business. This is also a unique opportunity to create a leading European fund data champion based in Luxembourg.”
Enrique Sacau, CEO at Kneip, said: “We are excited about accelerating our investment in our teams and in Kneip’s growth as part of the Deutsche Börse Group. Clearstream has a long history of driving innovation within the financial sector and shares our vision, values and our commitment to customer service. Deutsche Börse’s scale and resources will broaden our portfolio and boost our ability to deliver more value to clients faster. I look forward to developing and growing Kneip as part of Deutsche Börse Group. Above all, I would like to thank Hugues Delcourt, Chairman, and Bob Kneip, Founder & Vice Chairman. Over the last two years, I have worked together with Hugues to transform Kneip. His wisdom and drive have been critical, as has been Bob’s support and trust.”
Bob Kneip, Founder & Vice Chairman at Kneip, said: “I am excited about the opportunities that Deutsche Börse Group and Kneip jointly bring to market. This partnership will benefit our clients, our teams and reinforce Luxembourg’s position as the leading cross-border fund centre in the world. I wish to thank Hugues Delcourt, Chairman, and Enrique Sacau, CEO, for their support, hard work and vision to build the infrastructure of the future by partnering with a strong and global institution. Efficient, sustainable and scalable fund data management will contribute to making this world a safer place for investors and savers.”
Enrique Sacau, CEO of Kneip, Philippe Seyll, Head of Investment Fund Services at Deutsche Börse Group, and Bob Kneip, Founder and Vice Chairman, Kneip.
The shareholders of Kneip were advised by Raymond James as exclusive financial advisor, Norton Rose Fulbright as legal counsel, and Alvarez & Marsal as financial and tax due diligence provider. The management of Kneip were advised by PwC.
About Deutsche Börse
As an international exchange organisation and innovative market infrastructure provider, Deutsche Börse Group ensures markets characterised by integrity, transparency and stability. With its wide range of products, services and technologies, the Group organises safe and efficient markets for sustainable economies. Its business areas extend along the entire value chain in exchange trading, including the admission, trading and clearing, and custody of securities and other financial instruments, the dissemination of market data, as well as the management of collateral and liquidity. As a technology company, the Group develops state-of-the-art IT solutions and offers IT systems all over the world.
With more than 10,000 employees, the Group has its headquarters in the financial centre of Frankfurt/Rhine-Main, as well as a strong global presence in locations such as Luxembourg, Prague, London, New York, Chicago, Hong Kong, Singapore, Beijing, Tokyo and Sydney.
Kneip is a leader in fund data management and reporting solutions for the asset management industry. We help our clients manage their data efficiently and ensure compliance in a changing regulatory environment. Our solutions remove complexity throughout the fund lifecycle, so our clients can reduce risks, control their costs and focus on what they do best: delivering returns to their investors. We have been trusted by asset managers since 1993 and today we service more than 10,000 funds in over 40 countries.
Deutsche Börse Group
Phone +49 69 211 132 17
Phone: +49 69 211 127 66
Phone: +352 621 247 547