Skip to main content

SimCorp EMEA Signs non-binding Term Sheet with State Street Bank International GmbH

Written by Customer Service on . Posted in Public Companies.

Company Announcement no. 38/2020SimCorp EMEA and its current client State Street Bank International GmbH have today signed a non-binding Term Sheet setting out the main terms for entering into a strategic business partnership between the parties. The intention being to form a business partnership to provide a premier, fully integrated, front-to-back investment outsourcing solution for insurance firms in Europe, Middle East and Africa (EMEA).If and when the Term Sheet translates into a final strategic agreement, such agreement will become a “large contract” and SimCorp will disclose a company announcement about this.If the Term Sheet as expected translates into a final strategic agreement in 2020, SimCorp expects to report revenue growth and EBIT margin measured in local currencies for 2020, at the higher end of the financial outlook range announced in its Q2 2020 interim report: Revenue growth measured in local currencies is expected to be between -5% and 5%, and the expectation for EBIT margin measured in local currencies is between 22.0% and 27.0%. This is primarily due to the fact that a final strategic agreement is expected to include a conversion from the existing perpetual license agreement with State Street, to a new subscription-based license agreement with up-front revenue recognition of the license part.For more information on the strategic partnership, reference can be made to the joint press release, which will follow this company announcement.
Enquiries regarding this announcement should be addressed to:Anders Hjort, Head of Investor Relations, SimCorp A/S +45 3544 8822Mittal Shah, Head of PR, SimCorp +001 (646) 843 1707

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.