The European Commission (EC) has approved Deutsche Boerse’s acquisition of SimCorp thus paving the way for the takeover to be completed.
The EC’s green light means that the US$4.3billion deal is expected to be completed by September 29.
The acquisition was first announced in April when the German exchange group and the Danish software firm agreed on an all-cash public takeover.
The deal is in keeping with a general trend in the market for consolidation between front-office software platforms and market infrastructure or asset servicing players.
In 2018, global custodian State Street acquired order management systems provider Charles River.
Meanwhile exchange operators have looked to grow their own offerings by acquiring data analytics and front office software platforms.
Deutsche Boerse has confirmed that SimCorp will be integrated with its data analytics subisidaries to create a new investment management services business.
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