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Line Data makes move on QRMO

Global investment management and credit outsourcing specialist LineData has signed an agreement to acquire Quality Risk Management & Operations (QRMO), which provides outsourced middle-office, shadow accounting and risk monitoring services to the asset management and securities industries.

The acquisition of QRMO, a Hong Kong-based company with 30 employees, allows Linedata to expand its outsourcing business and enhance its presence across Asia. QRMO will now be able to expand its range of outsourced services by integrating Linedata’s broad range of technology solutions. This acquisition gives Linedata the ability to offer truly global, around-the-clock services to its clients.

The outsourcing market continues to grow across all Linedata’s markets in response to evolving investor and regulatory demands for transparency and robust operational infrastructure. This acquisition is part of a targeted, strategic plan for Linedata to develop an expansive geographic presence across key markets, and follows the addition of Gravitas, a US-based provider of middle office and technology services, in January.

Anvaraly Jiva, Founder and CEO of Linedata said: “This is an exciting and powerful addition to the Linedata business, particularly as more and more financial institutions look to outsource and benefit from scalable, best-in-class technologies and services. For more than a decade, QRMO has transformed the operational performance of asset managers across Asia. Integrating these services with our technologies strengthens the value of our offerings to the global financial services community.”

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