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Article: Data Technology Companies in Buyout Deals:Asset Control Attracts Capital From Fidelity Ventures, Replaces CEO and Acquires Microsoft Partner TAP.
- Article from:
- Securities Industry News
- Article date:
- April 9, 2007
- Author:
CopyrightCOPYRIGHT 2007 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Data management systems company Asset Control announced a series of strategic moves last week that were fueled by an infusion of capital from Fidelity Ventures, a firm closely tied to mutual fund giant Fidelity Investments of Boston. Now Asset Control's majority owner, the Fidelity arm has installed one of its venture partners, former Reuters Americas CEO Phil Lynch, in place of Asset Control chief executive Ger Rosenkamp, who becomes chairman.
Concurrently, Asset Control, which Lynch had identified for Fidelity Ventures as "the most promising emerging financial technology company," acquired TAP Solutions, a Vancouver, Canada software company that has established ...