Acquisition of Australian based consultancy strengthens services provided to local and international banks.
April 11, 2006 (Press Release) --
Admerex Limited (ASX:ADL) today announced the acquisition of Credit Risk Infrastructure Pty. Ltd., a specialist consulting company to the financial services industry.
Credit Risk Infrastructure (CRI) provides consulting solutions to the local and international banking community in the areas of capital allocation, risk management and pricing, and Basel 2 regulatory compliance. Clients of Credit Risk Infrastructure include major Australian banks and leading financial institutions in Asia, the Middle East and Africa.
The addition of these specialist consulting services to Admerex’s current software and consulting solutions will further strengthen the Company’s existing relationships within the financial services sector. The compliance framework set by the “Basel 2” committee of the Bank for International Settlements, which advises international financial institution regulators such as the Reserve Bank of Australia, has received substantial focus from large money centre Tier 1 banks. CRI has historically provided extensive services to these banks; the adoption of Basel 2 frameworks by other Tier 1 and many Tier 2 banks in all markets has significantly expanded the market opportunity for the CRI’s software and consulting services.
Admerex, in conjunction with the software and skill set presented by Credit Risk Infrastructure will now be able to assist financial institutions in ensuring that their capital allocations and risk management processes are not only regulatory compliant, but also support the creation of shareholder value.
Mr Kim Goodall, Executive Chairman of Admerex stated: “The acquisition of Credit Risk Infrastructure is highly complementary to the direction of Admerex. We envisage a solid overlap in existing client relationships and believe that the need for these specialist services will increase due to the increasing adoption of international banking regulatory standards.”
Mr Nick Davies, Managing Director of Credit Risk Infrastructure said: “We are delighted to announce we have formed a relationship with Admerex. Admerex’s senior management team provides an invaluable depth of experience in the financial software industry and we have confidence that this transaction will be beneficial to both existing and future clients. The Company’s global infrastructure enables us to deliver greater service and support to users of our Customer Value Management software, which is the only integrated internal rating and risk pricing tool available to address business, regulatory and Basel 2 requirements.”
Credit Risk Infrastructure has been acquired on a three year earn-out arrangement subject to the achievement of specific milestones.
It is anticipated that, in line with overall corporate branding the business name of Credit Risk Infrastructure will become “Admerex Credit Risk Management”.
Lincoln Crowne & Company acted as financial advisor to Admerex on this transaction.
Credit Risk Infrastructure (CRI) provides consulting solutions to the local and international banking community in the areas of capital allocation, risk management and pricing, and Basel 2 regulatory compliance. Clients of Credit Risk Infrastructure include major Australian banks and leading financial institutions in Asia, the Middle East and Africa.
The addition of these specialist consulting services to Admerex’s current software and consulting solutions will further strengthen the Company’s existing relationships within the financial services sector. The compliance framework set by the “Basel 2” committee of the Bank for International Settlements, which advises international financial institution regulators such as the Reserve Bank of Australia, has received substantial focus from large money centre Tier 1 banks. CRI has historically provided extensive services to these banks; the adoption of Basel 2 frameworks by other Tier 1 and many Tier 2 banks in all markets has significantly expanded the market opportunity for the CRI’s software and consulting services.
Admerex, in conjunction with the software and skill set presented by Credit Risk Infrastructure will now be able to assist financial institutions in ensuring that their capital allocations and risk management processes are not only regulatory compliant, but also support the creation of shareholder value.
Mr Kim Goodall, Executive Chairman of Admerex stated: “The acquisition of Credit Risk Infrastructure is highly complementary to the direction of Admerex. We envisage a solid overlap in existing client relationships and believe that the need for these specialist services will increase due to the increasing adoption of international banking regulatory standards.”
Mr Nick Davies, Managing Director of Credit Risk Infrastructure said: “We are delighted to announce we have formed a relationship with Admerex. Admerex’s senior management team provides an invaluable depth of experience in the financial software industry and we have confidence that this transaction will be beneficial to both existing and future clients. The Company’s global infrastructure enables us to deliver greater service and support to users of our Customer Value Management software, which is the only integrated internal rating and risk pricing tool available to address business, regulatory and Basel 2 requirements.”
Credit Risk Infrastructure has been acquired on a three year earn-out arrangement subject to the achievement of specific milestones.
It is anticipated that, in line with overall corporate branding the business name of Credit Risk Infrastructure will become “Admerex Credit Risk Management”.
Lincoln Crowne & Company acted as financial advisor to Admerex on this transaction.
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