Eze Software Group Acquires TKS Solutions for Undisclosed Sum

The terms of the deal have presently not been disclosed and the final acquisition is expected to be closed by

Eze Software Group, a provider of global investment technology, has acquired TKS Solutions, LLC, a boutique software provider of shareholder and partnership accounting tools, according to an Eze Software statement.

The terms of the deal have presently not been disclosed and the final acquisition is expected to be closed by the end of November 2015. TKS Solutions is best known for its flagship product offering, Penny It Works – per the acquisition, the group will add partnership and shareholder reporting capabilities to its existing portfolio accounting and portfolio management tools in Eze Software Investment Suite.

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

The offering is already being utilized by a number of asset managers and fund administrators that leverage Penny to handle fees and statements-based needs for their respective funds. The acquisition will also strengthen Eze Software Group’s existing client base, adding a multitude of hedge funds, administrators, asset managers and private equity funds, and wealth management platforms. The most recent shareholder accounting reports for TKS Solutions has seen nearly $500 billion in assets under management.

Suggested articles

Is It Worth Investing in Affiliation in 2019?Go to article >>

According to David Quinlan, Executive Managing Director at Eze Software Group, in a recent statement on the acquisition, “We are excited to add the TKS products, people and domain expertise to our company. Currently we have excellent portfolio-level accounting tools that allow us to produce Net Asset Values (NAV) for our clients, but many of our clients ask for tools that produce reports focused on shareholder and limited partner accounting. Adding Penny is a logical extension of our current portfolio accounting capabilities.”

“This is a fantastic new partnership for TKS. Our complementary product lines and company cultures are a perfect fit. The global sales and support infrastructure of Eze Software Group will help us accelerate our growth around the world,” added Ron Kashden, Founder of TKS.

Eze Software has been relatively quiet lately, with its last major development coming earlier this year when the group underwent a series of upgrades to its commission management offering. The group’s Broker Review, which was specifically targeting buy-side firms, has since allowed for the streamlined evaluation of their respective brokers. The primary impetus behind Broker Review was the consolidation and augmented utility behind the evaluation tools at a buy-side firm’s disposal.

Got a news tip? Let Us Know