Select Transactions:
Majority Acquisition of the Swiss InCore Bank by Sobaco
ICFG Zürich - A.Vaccani&Partners advised the buyer in 2017
Majority Acquisition of the Swiss InCore Bank by Sobaco
Target Company Name InCore Bank
Deal Types
  • Mergers & Acquisitions
Target Country Switzerland
Buyer Name / MBO Team / MBI Team Sobaco
Buyer Country Switzerland
Transaction Description

After FINMA approval in December 2016 the majority acquisition of the InCore Bank by Sobaco from Märki Baumann was closed on January 12, 2017. The two companies will become Switzerland’s largest private banking hub operating on the basis of the Finnova core banking solution.

SOBACO and InCore Bank have been offering innovative solutions for banks and wealth managers for 30 and 10 years respectively. Now, the two established Swiss bank service providers are unifying their capabilities for small and medium-sized financial institutions, as SOBACO takes a majority shareholding in InCore Bank. The previous owner, Maerki Baumann Holding AG will retain a substantial minority shareholding in the company.

A perfect combination for integrated banking services
By merging their specific services, the two companies are creating an integrated portfolio: SOBACO has many years of expertise in hosting, technical operations and Finnova application management, while InCore seamlessly augments this ITO and ASP offering as Switzerland’s only dedicated transaction bank. InCore’s licensed banking activities focus on the settlement of back-office services, bank client activities (brokerage, global custody, correspondent bank payment transactions) and compliance services. The service offering is completed by a projects business that supports projects such as the development of bespoke software solutions and Finnova implementations. SOBACO and InCore Bank will bring together their specific services, expertise and experience to support their clients with integrated and innovative services from a single source. This new entity will thus offer its existing and potential new clients a full range of services throughout the value chain, i.e. from migration projects to operations and maintenance, and all necessary banking services. Both specialists will continue to operate under their own names in the marketplace, while offering an integrated services portfolio. The new corporate group will comprise almost 100 employees.

SOBACO develops innovative IT products and services for banks and wealth managers. For more than 30 years, it has been designing and implementing specific solutions for small to medium-sized private and universal banks, as well as for wealth managers in Switzerland and abroad. Its services range from IT and process consulting through organization to implementation of complex IT projects. Its focus includes the implementation, operation and application management of its core banking solutions based on Finnova. In PAS and MyWebDepot, SOBACO has two portfolio solutions for wealth managers. Reporting packages and bank-specific IT solutions complement its offering.

About InCore Bank
As a Swiss corporation with a banking and securities dealer license, InCore Bank offers a comprehensive range of outsourcing services for banks and other regulated financial intermediaries. Its modular outsourcing offering covers middle and back-office activities (BPO/BSP), the execution and settlement of all bank transactions as central counterparty (street-side services such as brokerage, global custody, correspondent bank payment transactions) as well as compliance and other services. This offering allows financial institutions to reduce complexity and focus on their core business.

A.Vaccani&Partners (AVP) has supported Sobaco on this transaction. A. Vaccani has been serving on the Sobaco Board of Directors for many years and is now also joining the InCore Board.

Industry Sectors
  • Financial Services
  • Technology, Media & Comms
ICFG Office Zurich, Switzerland
ICFG Advisory ICFG Zürich - A.Vaccani&Partners advised the buyer in 2017

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