In a major move poised to reshape the landscape of enterprise data management, Rimes, a trailblazer in providing EDM-as-a-Service and investment platform solutions, announced on April 9, 2024, its acquisition by Five Arrows, the investment arm of Rothschild & Co. This strategic purchase is set to catalyze Rimes’ growth and bolster its global reach, creating a powerhouse in the investment technology sector.
Founded in 1996, Rimes has long stood as a cornerstone in the financial technology arena, serving an elite clientele that includes 60 of the world’s top 100 asset managers and the 10 largest asset servicers globally. With more than USD 75 trillion in assets under management flowing through its systems, Rimes has developed a reputation for reliability and innovation, especially after its strategic acquisition of Matrix IDM in 2021, which expanded its offerings to include cutting-edge data distribution and warehousing solutions.
The deal, championed by both the Five Arrows Long Term Fund (FALT) and Five Arrows Principal Investments (FAPI), reflects Five Arrows’ targeted approach to investing in leading B2B data and software sectors, particularly those that influence financial technology. Seif Khoufi and Constantin Sabet d’Acre of FALT praised the Rimes team for their visionary leadership and customer-centric growth, which has significantly enhanced their market position and customer satisfaction rates.
Rimes’ CEO, Brad Hunt, expressed pride in the company’s trajectory, emphasizing the blend of customer-focused ethos and modern technology that sets Rimes apart. He also acknowledged the pivotal role of EQT and its support in achieving recent milestones and expressed enthusiasm about the future under Five Arrows’ umbrella.
On the other side of the transaction, EQT’s representatives, including Rob Maclean and Patrick McBride, reminisced about their productive collaboration with Rimes, highlighting the transformative strides made under their partnership. They expressed confidence in Rimes’ continued prosperity, driven by Five Arrows’ support.
This acquisition not only marks a significant chapter in Rimes’ story but also signals a shift in the broader landscape of financial services technology. The merger promises to leverage Rimes’ robust technological infrastructure and deep market penetration to drive innovation and efficiency, particularly in AI-led investment strategies and global expansion.
The transaction, which is still awaiting regulatory approvals, saw advisory roles played by major financial and legal consultants including Evercore and Latham and Watkins for Rimes, and Jefferies and Shoosmiths for Five Arrows.
With such a dynamic alignment of vision and expertise, the financial technology sector is poised on the brink of a transformative era, where data management meets global investment intelligence on a scale never seen before. As these two giants join forces, the industry watches with bated breath, eager to see how this partnership redefines the art of the possible in investment management.