Finzsoft & Silverlake Axis Join Forces

Finzsoft & Silverlake Axis Join Forces as Takeover Goes Unconditional

Video: Silverlake Axis Group Executive Chairman, Goh Peng Ooi talks about why SAL is investing in Finzsoft

03 March 2015, Auckland, NZ – New Zealand banking and finance software company, Finzsoft Solutions Limited (NZX:FIN) is now part of Silverlake Axis Group Limited (SAL) as the takeover by the Kuala Lumpur based leader in digital economy solutions is unconditional.

In 2013, interests associated with Andrew Holliday, Finzsoft’s Managing Director, gained a controlling interest in Finzsoft by acquiring a majority shareholding in the company. On December 18 2014, interests associated with Andrew Holliday formed a company, Silverlake HGH, with Silverlake Axis Limited, to make a full takeover offer for all of Finzsoft’s shares. On March 1 2015, Andrew Holliday’s interests accepted the offer in relation to all of their approximate 65% shareholding in Finzsoft, making Silverlake HGH’s takeover offer of NZ$3.00 per share to all Finzsoft shareholders unconditional.

Kwong Yong Sin, Group Managing Director of SAL said SAL sees Finzsoft as an important part of the Group’s Asia Pacific strategy going forward. “There are strong synergies between SAL and Finzsoft’s products and solutions, and a natural alignment of target customers in the Asia pacific region, being Tier One banks”.

“This acquisition will add depth and range to the Group’s portfolio of software solutions and services to deliver and support our customers’ transformational initiatives and to compete and profit from the digital economy”.

Later this week, Finzsoft and SAL will engage with over 600 senior executives from the banking, insurance and capital market sectors when the companies attend the Asian Financial Services Congress in Singapore on 5 & 6 March.

Finzsoft is attending the conference at the invitation of Silverlake:Axis. The Congress will give Finzsoft’s team and products exposure to some of the Asian Financial Services Industry’s regulators and senior banking and finance executives.

The AFS Congress is being chaired by Cyrus Daruwala, Managing Director IDC Financial Insights Asia/Pacific. Cyrus was in New Zealand last year and gave his view on how Finzsoft has been ahead of the game in the development of its banking and finance software. Watch the video here

Finzsoft will be located at stands A3 & A4 during the AFS Congress 2015 and will be represented by a senior team of board and management. - Ends -

The media contact for Finzsoft is Trish Sherson on +64 21 570 803 or email trish@shersonwillis.com

About Finzsoft:
Finzsoft creates innovative, transformational products and services designed around the people that use them. Since its launch over 25 years ago, the company has provided financial software and solutions for banks and financial institutions in Australasia. Finzsoft has offices in Singapore, Malaysia, Australia and Auckland and employs over 90 people. www.finzsoft.com

About Silverlake Axis Ltd (5CP.SI)
www.silverlakeaxis.com
Silverlake Axis Ltd (SAL) is a leading provider of digital economy solutions and services for major organisations in Banking, Insurance, Payments, Retail and Logistics industries. The Group's Silverlake Axis Software and Services Solutions are delivering operational excellence and enabling business transformations at over 100 organisations across Asia, including 40% of the largest banks in South East Asia. SAL has a 25-year track record of successfully delivering proven Financial Institution Class Core Software and is the core system platform partner of choice for 3 of the 5 largest ASEAN super regional financial institutions.

Under Axis Systems Holdings Limited, the Group was listed on the SGX-SESDAQ on 12 March 2003. It was renamed Silverlake Axis Ltd in 2006 following the acquisition of SAACIS, the company that owns the Silverlake Integrated Banking Solution (SIBS) and the listing was transferred to the Mainboard of the Singapore Exchange on 22 June 2011.

SAL’s Founder and Executive Chairman, Mr Goh Peng Ooi, is a highly regarded information technology visionary and entrepreneur who was recently named Ernst & Young Master Entrepreneur of the Year 2014 Malaysia.

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