Flexible Management Systems Ltd (FMS), a British group specializing in software for the financial sector, has paid $22.9m for Banking Software Partners GmbH (BSP), a German developer of software for securities transactions and custody operations, headquartered in Miltenberg, near Frankfurt. Its main products are BSP-Trade and BSP-Innova, which are currently used by around 40 banks around the world. London-based FMS already owns ACTIS, a company which sells banking applications software in both the UK and Germany, as well as Telino, a Paris-based supplier of middleware for message broking and the integration of legacy systems. It revealed that the UK venture capitalists 3i and Lloyds Development Capital provided around $16.5m of the deal’s funding. FMS said that, as a result of this latest acquisition, it now expects revenues of around $33m this year.
