Fintech fim Eze Software Group has signed a definitive agreement to acquire TKS Solutions, LLC, a Mount Kisco, N.Y.-based specialty software provider of shareholder and partnership accounting tools, for an undisclosed amount.
The deal is expected to close next month.
TKS Solutions’ core product, known as Penny It Works, will add partnership and shareholder reporting capabilities to the existing portfolio accounting and portfolio management tools in Eze Software Investment Suite. Top asset managers and fund administrators leverage Penny to calculate fees and generate statements for any type of fund in a controlled and auditable environment. The TKS suite also contains a fee calculator that will calculate complex management/incentive fees and can be integrated into any environment.
TKS’s clients include hedge funds, administrators, asset managers and private equity funds, as well as wealth management platforms. The products currently produce shareholder accounting reports for approximately $500 billion in assets under management.
