Wilco acquires German financial software-services provider

By : |May 30, 2002 0



HYDERABAD: Wilco International, a subsidiary of Automatic Data Processing
Inc., has acquired German financial software and services provider, ISAM GmbH, a
private German company based in Frankfurt, with a subsidiary in Prague.

ISAM has a portfolio of specialist software products and services for the German
securities markets, centered on tax processing and reporting, regulatory
reporting, and the distribution and presentation of securities and corporate
actions data from Wertpapeirmitteilung. ISAM also provides a SWIFT accredited
service bureau.

                                 

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This acquisition furthers Wilco’s and ADP’s strategy of providing the
strongest institutional and retail securities processing service offering in all
major financial markets.

"Frankfurt is a premier global financial location and Germany has the
largest retail transaction volumes of any European country. Wilco first opened
an office in Frankfurt in 1999. As of now we cannot reveal the consideration for
the deal but it will definitely give us a cutting edge in the area we
work," said, Donal O’Brien, IT Director at Wilco.

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