AMSTERDAM: Euronext has completed the sale of Centevo to Profile Software, an international financial solutions provider.
Centevo had been acquired in 2019 as part of the acquisition of Oslo Børs VPS. Centevo generated c.€5.5m of revenues in 2020.
The sale of this asset was implemented as part of a strategic review initiated following the integration of Oslo Børs VPS and the decision to divest non-core activities.
Centevo provides its clients with a comprehensive and standardised panel of services to support asset and fund manager processes, from onboarding of end clients to asset management services in the Nordic region.
Euronext VPS will continue to work in close collaboration with Centevo to deliver best-in-class services to their common clients.
Based on Euronext 2020 full-year results, the sale of Centevo would account for an increase of c.+0.4 pts to Euronext EBITDA margin. For 2021, this will result in an additional cost reduction on top of the mid-single digit decrease in operating costs exc. D&A previously expected in 20211. www.euronext.com