News
LPA acquires Tel Aviv based Modelity Technologies in a strategic move to become the leading CapTech player
Aug 13, 2019
Lucht Probst Associates (LPA)
acquires 100% of the shares in Modelity, a leading Israeli tech company
for the financial and capital market industry
Combining the product and customer portfolios of Modelity and LPA makes the combined company the CapTech market leader in Europe
International expansion continues
with a location in the Israeli technology metropolis of Tel Aviv, one of
the most important tech hotspots worldwide
Frankfurt am Main, Tel Aviv 13.08.2019: The
contracts have been signed: LPA, a leading provider of technology
innovations for capital markets and financial institutions (CapTech) has
acquired 100% of the shares of Modelity Technologies Ltd. The company, which has had a new majority shareholder in Motive Partners
since the fall of 2018, is thus making further progress in its
internationalization and on its way to becoming the global market leader
for CapTech.
CapTech companies develop technology solutions and products that help
financial services companies to increase their ability to innovate in
their capital market activities. Specifically, they use their offerings
and services to support their customers in scaling their business
activities (through automation for example) and improving their business
processes through sustainable optimisation and digitalisation – always
in compliance with existing and future regulatory standards.
By acquiring Modelity Technologies, an experienced CapTech provider
that was established in 2000 and employs 80 highly skilled technology
capital markets and regulatory professionals, LPA has significantly
expanded its customer base outside the DACH region, making it the
largest and leading CapTech provider in Europe. By integrating Modelity,
LPA has added state-of-the-art products and solutions to its own
extensive CapTech suite. Whereas LPA has focused its technological
activities on the digitalisation and automation of documents and
processes, for example, Modelity now adds a multi-award-winning
technology for financial and regulatory analytics to complete LPA’s
future offerings. Based on this technology, Modelity recently developed
Unicost, a system for monitoring regulatory reporting (e.g. costs &
charges, product governance) between MiFID manufacturers and
distributors and marketplace, a fully automated multi-dealer platform
for the issuance and processing of personal investment products.
With the company’s location in Tel Aviv, LPA is gaining access to an
extensive pool of top talents and to the great innovative strength of
the Israeli technology scene and can continue to expand its own CapTech
expertise. This opens up new ways for the company to generate further
renowned national and international customers and recruit highly
talented professionals.
The management team of Modelity will continue to serve the company. The
old and new CEO of Modelity is Ayal Leibowitz, one of the founders of
the company, who has more than 20 years of experience in management and
software development and capital markets. Asaf Seri will continue as
President and Chief Operating Officer (COO). Like Leibowitz, he has many
years of experience and extensive expertise in software development and
project management.
Peter Schurau, CEO of LPA: “Modelity and Tel Aviv
fit perfectly with LPA. Experts in the Israeli technology metropolis
have long been setting new trends in the digitalisation of the financial
market industry. Making use of this know-how, combining it with LPA’s
own expertise and working with our new colleagues in Tel Aviv on
developing innovative products and solutions – that’s a really exciting
prospect. I am very much looking forward to working with Ayal Leibowitz,
Asaf Seri and the entire Modelity team.”
Stefan Lucht and Roland Probst, founders and directors of LPA:
“The integration of Modelity Technologies is a strategic and
significant milestone in the history of our company and adds the latest
piece to our internationalisation strategy jigsaw. Above all, it
strengthens our positioning as the market leader in the CapTech segment.
Together we will be able to gain major new customers in highly
attractive regional markets.”
Ayal Leibowitz, CEO of Modelity and new member of the Global Executive Committee of LPA:
“The fact that we now belong to the LPA group is a wonderful
opportunity for Modelity to add our in-depth expertise acquired over
many years in developing technology solutions for the capital markets
and to apply our know-how in a powerful group of companies. We will work
together to achieve our common goal to become the leading global
provider of capital market technologies”
About Lucht Probst Associates (LPA):
Lucht Probst Associates is a technology company specialising in the
demands and characteristics of the capital market sector. The core
business of LPA is the continual development and expansion of its
portfolio of technology solutions for automated consultancy (LPA Digital
Client Interaction), sales (LPA Captano) and documentation (LPADoc) for
financial instruments, structured products and OTC derivatives. LPA
offers market-leading solutions that support banks in efficient
compliance with the requirements of MiFID II, PRIIPs and FIDLEG in
conjunction with the Key Investor Information Document (KIID). This
document contains the essential information about a financial product,
including financial terms, risks and historical performance data for
private investors. In addition to the development of technology
solutions for the capital market, LPA offers strategic consultation,
management and implementation services. Following the integration of
Modelity, almost 300 technology and capital market experts are working
on the international client portfolio at nine international locations.
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