SimCorp has acquired another wealthtech provider, APL Italiana, for 35 million euros. APL Italiana specializes in investment and portfolio management software for the Italian insurance market.
The company is based in Milan and employs around 120 people. In 2016, APL Italiana achieved sales of € 16.6 million and an EBIT of € 4.8 million.
Simcorp expects the acquisition to increase sales by 2% and not have a material impact on EBIT margin in …