Geneva, 16 December 2011: SOFGEN Holdings Limited (SOFGEN) has divested its interest in REGReporter, held for and on behalf of the group by SOFGEN Americas Inc. The transaction, concluded on Thursday, 15 December 2011, sees Lombard Risk Management plc (Lombard Risk), a company listed on the London Stock Exchange, acquire the REG-Reporter division of SOFGEN Americas, Inc.
Alexander Dembitz, Chairman, SOFGEN Holdings Limited, stated, “The other products in SOFGEN’s portfolio are more closely related to core banking and we see this transaction as mutually beneficial to both companies.”
Lombard Risk is a leading supplier of regulatory reporting and risk management with regulatory reporting software in multiple countries.
John Wisbey, Chief Executive Officer, Lombard Risk, commented, “This transaction gives us added relevance in the US Market as well as enabling us better to serve banks with a global footprint.”