04/12/2014
Acquisition of All Shares in BSM GmbH Expands Product Portfolio
Effective January 1, 2015 msg systems ag will be assuming all shares in BSM GmbH. The contract was signed in mid-November. With the acquisition of BSM and the company's product BAIS (a bank supervisory information system) msg plans to heighten its competences in the field of financial services – a field covered by msgGillardon within the msg group of companies. BAIS is among the leaders in the niche market of regulatory reporting and will strengthen msg's offering in the field. The existing management shall continue to manage BSM, with more than 30 employees, as an independent company. The company shall begin reporting to Dr. Stephan Frohnhoff, the chairman of the board of directors at msgGillardon, on January 1, 2015.
Financial service providers utilize BAIS for a wide variety of tasks, including banking statistics notifications, own funds and requests for own funds, liquidity regulation or large-scale loans and multi-million loans pursuant to §14 of the German Banking Act. Through the acquisition of BSM msg will be able to strengthen its consulting competence in the fields of risk management and risk and return management, in which regulatory reporting plays a key role. msg company msgGillardon and its more than 400 employees provide excellent consulting competence with proven banking expertise. The close alignment with msgGillardon will give BSM customers significant planning and investment security. Customers will also benefit from the high level of expertise along the entire value chain in banking, all from a single source.
Hans Zehetmaier, chairman of the board of directors at msg systems ag, states, "Together with BSM we will expand our competence in the vertical financial services market and, in addition to bank controlling and reporting, will also be a leading product and solution provider in the field of regulatory reporting as well. We are striving to establish a close collaboration between the two companies, something both current and future customers will benefit from as it will give them easier access to the competences both companies have to offer."
