Investment banking specialist the DAK Group said it acted as the exclusive investment banker and sold off the assets of Koger Inc., a global financial services software company headquartered in Paramus. Koger’s assets were acquired by HWM Group of Dublin, Ireland, a premier investor services and regulatory solutions provider to alternative and retail fund administrators.
According to a Tuesday announcement, the combined enterprise will create the world’s foremost fund administration software solutions provider.
“HWM’s acquisition of Koger’s assets creates the market leader in fund administration software. By combining into a single platform, the new entity will be able to offer a suite of highly complementary solutions with deeper functionality to its global, blue-chip customer base,” said Melvyn Threatt-Peters II, vice president at the Rochelle Park-based DAK Group.
Lovell Minnick Partners LLC, a private equity firm focused on investments in financial services, financial technology and related business services, funded the Koger acquisition.