Abrigo (a leading provider of compliance, credit risk, and lending solutions for financial institutions) announced it has acquired TPG Software, an industry leader in investment accounting and management solutions. This acquisition marks the latest in a series of strategic investments by Abrigo to help financial institutions streamline risk and accounting management processes while ensuring internal and regulatory compliance.
TPG optimizes critical risk management, accounting, and reporting processes for various investments, spanning fixed income, derivatives, and several assets. Renowned as an industry leader, TPG’s solutions seamlessly integrate automated transaction approval into institutional workflows, ensuring alignment with investment policies and risk profiles.
TPG simplifies accounting complexities by consolidating general ledger entries and comprehensive reporting on a unified platform. Through a significant presence across U.S. banks, TPG stands out in the investment accounting solutions market, offering unparalleled expertise and robust capabilities.
The acquisition of TPG Software will expand Abrigo’s suite of technical accounting solutions and strengthen its risk management and reporting capabilities, which are vital given the industry’s focus on liquidity, capital requirements, and earnings. Adding TPG to Abrigo’s CECL, stress testing, income recognition, asset/liability management, and credit monitoring solutions will strengthen its position as a one-stop shop for the CFO office.
DLA Piper LLP advised Abrigo on this transaction, and D.A. Davidson & Co. acted as TPG Software’s exclusive strategic and financial advisor.
KEY QUOTES:
“We are thrilled to welcome TPG Software to the Abrigo family. TPG’s expertise and technology perfectly complement our commitment to providing mission-critical technology and high-touch customer service to financial institutions.”
– Jay Blandford, CEO of Abrigo
“Our mission has always been to make the complex simple through our software and support. Abrigo and TPG Software are like-minded when it comes to placing customers first. Together, we’ll continue to create tools that financial institutions can leverage for success.”
– Ursula Felmet, CEO of TPG Software
