March 15 (SeeNews) - Bulgarian provider of cloud-based investment management systems Dynamo Software said on Thursday it has acquired U.S.-based software developer Q-Biz.
The deal will expand Dynamo's services to venture capital and real estate funds, strengthening the financial and accounting capacities and adding considerable expertise to Dynamo's team, Dynamo Software said in a press release.
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The two companies have been working together for many years and have a number of common clients, it added.
In October 2017, US-based private equity firm Francisco Partners made a majority investment in Dynamo Software.
Dynamo Software, formerly Netage Solutions, provides industry-specific, configurable investment management and reporting software for the global alternative assets industry. It has over 400 clients who manage assets worth over 3 billion dollars (1.24 billion euro).
The list of Q-Biz Solutions' clients includes venture capital and private equity funds managing assets worth between 200 million and several billion dollars.
($ = 0.8090 euro)