- The acquisition marks a pivotal moment for Linedata in enhancing its technological offerings and services through AI.
- DreamQuark brings ten years of AI software development and expertise through its strategic customer partnerships.
- This acquisition underscores Linedata's commitment to innovation and the digital transformation of the finance industry, promising new software advancements.
Paris, London, Boston, New York, Hong Kong, April 8, 2024 – Linedata (Euronext Paris: LIN), a global provider of asset management and credit technology, data, and services, today announces the acquisition of DreamQuark, a renowned French startup specializing in the development of artificial intelligence (AI) platforms and services for the financial services sector.
Solidly established in the artificial intelligence market to improve operational efficiency for leading banks, Linedata extends its influence through this acquisition into critical sectors such as asset management, credit, and insurance. Enhanced by DreamQuark's expertise and sustained collaborations with entities such as Royal Bank of Scotland and Gambit Financial, these synergies create a unique presence in the industry and are designed to improve management processes for both front and back-office operations.
"At the heart of this alliance lies a shared vision of the critical importance of artificial intelligence for the financial sector, along with a perfect synergy in both values and technology," states Timothée Raymond, Head of Business Development. "This acquisition enables us to incorporate ten years of technological know-how in AI, complementing Linedata's expertise in this area. The merging of DreamQuark's talents with those of Linedata opens new avenues to offer our clients innovative solutions to their business challenges."
Since being founded in 2014, DreamQuark has distinguished itself through the development of its AI engines, notably its SaaS NBA (Next Best Action) solutions, which enhance the satisfaction of advisors and clients by facilitating the identification and prioritization of actions to be taken. The solutions offer enhanced advising, strengthened compliance, smart document retrieval, and efficient acquisition of ESG data, all while ensuring proper management of AI-related risks.
These technologies seamlessly integrate into Linedata's existing software, such as the Linedata AMP platform and its Accumen module dedicated to portfolio management optimization; and will also be the foundation for the development of new innovative solutions.
Nicolas Meric, CEO of DreamQuark, adds: "We are thrilled to join Linedata and look forward to bringing our expertise and energy to their clients. We are eager to provide them with high-value solutions based on generative AI and tackle the challenges of integrating it into the asset management, insurance, and credit sectors."
ABOUT DREAMQUARK
DreamQuark develops artificial intelligence engines that serve banks, insurers, and wealth managers in Europe and Asia. Their NBA technology significantly enhances the customer experience and advisor performance through easily integrable SaaS solutions within the existing IT environment.
ABOUT LINEDATA
With 25 years’ experience and 700 clients in 50 countries, Linedata’s 1200 employees in 20 offices provide global humanized technology solutions and services for the asset management and credit industries that help its clients to evolve and to operate at the highest levels.
Headquartered in France, Linedata achieved revenues of EUR 183.3 million in 2023 and is listed on Euronext Paris compartment B FR0004156297-LIN – Reuters LDSV.PA – Bloomberg LIN:FP.