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Toronto, ON, Canada and New York, NY, USA, April 26, 2021 -- Tier1 Financial Solutions, a provider of client relationship management ("CRM"), AML compliance and fraud prevention solutions, has acquired Satuit Technologies, Inc., a global provider in asset management CRM software solutions. The acquisition allows Tier1 to accelerate its expansion into the buy-side and grow its global footprint. Terms of the transaction were not disclosed.

The acquisition underscores Tier1's continued commitment to the digitalization of the entire client relationship workflow for Capital Markets, Investment Banking and Investment Management firms, ranging from large enterprises to small start-ups. 

The addition of Satuit CRM and Investor Portal solutions for buy-side Asset Management and Wealth Management complements Tier1's sell-side CRM platform for Capital Markets and Investment Banking. With the acquisition, Tier1's product suite now expands to include a standalone CRM that is engineered specifically for the needs of buy-side firms.

"The addition of Satuit allows us to not only accelerate our expansion into the buy-side with Satuit's dedicated end-to-end CRM and investor portal solution but also adds to our valuable ecosystem of sell-side banks and corporates," said Jiro Okochi, CEO of Tier1 Financial Solutions. "We look forward to investing in the Satuit product and providing an excellent customer experience."

"The asset management CRM industry has been in transition and consolidating for the last several years," said Karen Maguire, CEO and Founder of Satuit. "This acquisition makes perfect strategic sense with Tier1's focus on increasing penetration into the buy-side and Satuit's strong asset and wealth management pedigree. We are excited to join the Tier1 team and look forward to delivering on the many benefits that this acquisition will provide."

The current Tier1 organization structure will remain unchanged, with two divisions operating as independent business units under Manish Patel, COO of CRM and Andrew Simpson, COO of Compliance, respectively. Karen Maguire will continue in her role as CEO of Satuit and will report directly to Jiro Okochi.

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Posted by Veronica Silva Cusi, news correspondent
Source: https://www.newswire.ca

Date Posted: Wednesday, April 28, 2021