To enhance its financial compliance and risk management offerings, Abrigo, a prominent provider of compliance, credit risk, and lending solutions, has announced the acquisition of TPG Software, a leading provider of investment accounting and management solutions.
This acquisition is part of Abrigo’s ongoing efforts to streamline risk and accounting management processes for financial institutions while maintaining adherence to internal and regulatory standards.
“We are thrilled to welcome TPG Software to the Abrigo family,” said Jay Blandford, CEO of Abrigo. “TPG’s expertise and technology perfectly complement our commitment to providing mission-critical technology and high-touch customer service to financial institutions.”
TPG Software is recognized for optimizing risk management and accounting for a variety of investments, including fixed income and derivatives. Its solutions are integrated into institutional workflows, aligning with investment policies and risk profiles, and simplifying accounting by consolidating general ledger entries and reporting.
The merger significantly enhances Abrigo’s technical accounting solutions and fortifies its risk management and reporting capabilities, crucial for addressing industry concerns such as liquidity, capital requirements, and earnings. The addition of TPG positions Abrigo as a comprehensive resource for CFOs.
With the investment accounting software market expected to reach $8.2 billion by 2027, the combined expertise of TPG and Abrigo is set to meet the increasing demand for solutions that optimize risk, portfolio performance, and regulatory compliance.
Legal advisory for the transaction was provided by DLA Piper LLP to Abrigo, while D.A. Davidson & Co. served as the exclusive strategic and financial advisor to TPG Software.
“Our mission has always been to make the complex simple through our software and support. Abrigo and TPG Software are like-minded when it comes to placing customers first,” said Ursula Felmet, CEO of TPG Software. “Together, we’ll continue to create tools that financial institutions can leverage for success.”