Financial technology company Avaloq completed its transaction with Warburg Pincus.
The international fintech company, which specialises in integrated and comprehensive banking solutions, has completed its transaction whereby global private equity firm Warburg Pincus acquires a 35 percent stake in the group, the firm said in a media release.
Under the partnership Avaloq will be able to capitalise on Warburg Pincus’ expertise and network in the financial services and fintech sectors to accelerate the company’s long-term growth and value creation strategy.
No Strategy Change
Warburg Pincus is buying shares currently held by management, board members and employees.
The private equity firm will send two board representatives to Avaloq, which isn't expected to alter its strategy as a result of its new shareholders.
finews.asia reported in depth on the deal in March.
