AIM Software’s acquisition of Joss Technology will add an entity data business application to AIM’s Gain data management platform, as well as US based employees and customers who will help to power the company’s ‘go west’ strategy.
The terms of the acquisition have not been disclosed, but once it is complete, Joss Technology will be rebranded and operate as part of AIM Software North America. All of the company’s managers and employees, including co-founders Olivier Schlatter and Julien Serdaru, will join AIM, along with a handful of clients.
On the product side, AIM will rebrand Joss Technology’s Entity Data Management System as an entity master business application on its Gain platform. The application will replace AIM’s counterparty data application, which the company says it will continue to support along with existing instances of Joss Technology’s Entity Data Management System, although its goal is for all users to migrate to AIM business applications over time.
Josef Sommeregger, global head of sales at AIM, explains: “We offer packaged business applications that differentiate us from other vendors that take an IT-based approach to data management platforms. The addition of an entity master business application from Joss Technology is a logical extension of AIM’s Gain platform.”
Joss Technology was founded in New York City in 2010 with a focus on entity data management. Its Entity Data Management System, which uses fuzzy matching algorithms and an intuitive user interface to help firms aggregate, manage and disseminate entity data for greater operational efficiency, was brought to market in late 2011. Commenting on Joss Technology’s acquisition by AIM, Schlatter says: “Joss Technology and AIM have a shared vision about developing apps and platforms around business users. We have had a business rather than a technical focus since we started the company.”
As well as adding an entity master application to the Gain platform, Joss Technology adds to AIM’s presence in the US, where the company recently secured two Tier 1 clients and is planning a wider rollout out of its newly extended product line. Sommeregger says AIM has a number of US deals in the pipeline and hopes to close some of them before the end of this year. By early next year, he intends to have 10 employees in the US to meet market demand for AIM solutions and to provide added value for local customers using the company’s solutions. Looking a little further ahead, he concludes: “Over the next two years, we will do more in North America as we continue to follow our ‘go west’ strategy.”