Linedata (Euronext Paris: LIN), a France-based Fintech, has acquired DreamQuark – an artificial intelligence (AI) firm that provides services to financial firms like banks and wealth managers.
The terms of the acquisition were not revealed.
Nicolas Meric, CEO of DreamQuark, said they are thrilled to join Linedata and look forward to bringing their services to their clients.
“We are eager to provide them with high-value solutions based on generative AI and tackle the challenges of integrating it into the asset management, insurance, and credit sectors.”
DreamQuark was founded in 2014 and offers advising, strengthened compliance, smart document retrieval, and efficient acquisition of data.
Linedata claims the DreamQuark system seamlessly integrates into its existing software.
Timothée Raymond, Head of Business Development at Linedata, said the acquisition enables them to incorporate ten years of technological know-how in AI while opening new services for clients.
Today, Linedata reports over 700 clients in 50 countries and top-line revenue of €183.3 million.
