Toronto, ON and New York, NY /PRNewswire/ - Tier1 Financial Solutions, a leading provider of client relationship management ("CRM"), AML compliance and fraud prevention solutions, has acquired Satuit Technologies, Inc., a global leader in asset management CRM software solutions. The acquisition allows Tier1 to accelerate its expansion into the buy-side and grow its global footprint. Terms of the transaction were not disclosed.
The acquisition underscores Tier1's continued commitment to the digitalization of the entire client relationship workflow for Capital Markets, Investment Banking and Investment Management firms, ranging from large enterprises to small start-ups. Tier1's growing portfolio of digital transformation and automation solutions are playing a key role in optimizing client engagement, increasing operational efficiency, and reducing risk across a progressively virtual and technology-reliant industry landscape.
The addition of Satuit CRM and Investor Portal solutions for buy-side Asset Management and Wealth Management complements Tier1's robust sell-side CRM platform for Capital Markets and Investment Banking. With the acquisition, Tier1's product suite now expands to include a standalone, cost-effective CRM that is engineered specifically for the needs of buy-side firms.
"The addition of Satuit allows us to not only accelerate our expansion into the buy-side with Satuit's dedicated end-to-end CRM and investor portal solution but also adds to our valuable ecosystem of sell-side banks and corporates," said Jiro Okochi, CEO of Tier1 Financial Solutions. "We look forward to investing in the Satuit product and providing an excellent customer experience."
"The asset management CRM industry has been in transition and consolidating for the last several years," said Karen Maguire, CEO and Founder of Satuit. "This acquisition makes perfect strategic sense with Tier1's focus on increasing penetration into the buy-side and Satuit's strong asset and wealth management pedigree. We are excited to join the Tier1 team and look forward to delivering on the many benefits that this acquisition will provide."
TIer1's out-of-the box product model announced late last year, combined with the Alessa acquisition in January, and the Satuit acquisition places Tier1 in an excellent position to provide clients with a truly unique solution set that includes buy- and sell-side focused CRM, Investor Portal, KYC, AML and fraud detection capabilities.
The current Tier1 organization structure will remain unchanged, with two divisions operating as independent business units under Manish Patel, COO of CRM and Andrew Simpson, COO of Compliance, respectively. Karen Maguire will continue in her role as CEO of Satuit and will report directly to Jiro Okochi.
About Tier1 Financial Solutions
Tier1 Financial Solutions is a leading provider of client relationship management (CRM), KYC & AML compliance, and fraud prevention solutions. Tier1's portfolio of digital transformation solutions empowers its clients to optimize customer engagement, increase operational efficiency and reduce regulatory compliance risk. Trusted by over 300 companies and nearly 20,000 users worldwide, Tier1 delivers workflow-optimized experiences, prompted insights and a centralized view of client interactions that drive revenue-generating engagements. Serving the unique needs of Capital Markets, Investment Banking, Investment Management and corporate professionals, Tier1 advances client relationships and workflows with data-driven insights across desktop and mobile devices, empowering compliance, collaboration, transparency and communication. For more information, visit www.tier1fin.com.
About Satuit Technologies, Inc.
Satuit Technologies, Inc. is the premier provider of CRM, reporting, and portal software solutions for the asset management, hedge fund, wealth management, private equity, and real estate markets. Satuit has offices in the United States and the United Kingdom and serves clients in more than thirty-five countries. Satuit Technologies is certified as a women's business enterprise by the Women's Business Enterprise National Council (WBENC). For more information, visit www.satuit.com.