The newly merged CAP Group Plc – or Sema Group Plc as it will be known from next month – has acquired a 29.9% stake in Progefi SA, a small Geneva-based systems house, for an undisclosed sum. Progefi has been in existence for the last five years and specialises in investment management software for merchant bankers, investment houses and pension fund managers. The multi currency, multi-language software runs on DEC VAXes and provides integrated front and back office processing. Though the financial services market has been hit badly by Meltdown Monday last October, CAP believes that the investment management market has not suffered too badly – as a company spokesman said investment managers still have funds to manage. Following the merger with Sema-Metra SA in June the group is looking for rapid growth in foreign markets, particularly Spain and France, for the new products.