Fintech and investment data provider FE Fundinfo has acquired the French fee fintech firm Adjuto.

The cost of the acquisition has not been disclosed.

Adjuto, based in Paris, provides a fee and rebate calculation engine and will help power FE Fundinfo's Managed Fee and Distribution Channel Management Service.

Adjuto’s software has gained users across France, Luxembourg and Switzerland. It provides efficient rebate reconciliation and calculations, FE says. 

FE adds that the deal is part of its initiative to strengthen its back-office processes for asset managers through digitalisation, standardisation and automation.

Olivier Gnos, chief executive at Adjuto, said: “This collaboration presents an incredible opportunity to harness our collective strengths and provide asset managers with transformative solutions that simplify their operations, reduce manual processes and elevate their performance.”

Liam Healy, chief executive at FE Fundinfo, said: "We couldn't be more excited to welcome Adjuto into the FE fundinfo family.

“Olivier and team have done a great job and combining forces is a natural extension to collectively continue solving the biggest challenges our clients face in fee and distribution channel management."

Steffen Ahlers, director fee & distribution channel management at FE Fundinfo, said: “We are thrilled to welcome Adjuto to FE fundinfo as we continue to propel our fee and distribution channel management initiative forward.

“This acquisition is a testament to our unwavering commitment to equipping asset managers with products and services for success. Together, we’re poised to redefine industry standards and digitalise processes related to fee management.”

FE Fundinfo employs more than 1,000 experts working in over 15 countries around the world.