BOSTON–(BUSINESS WIRE)–Dynamo Software, Inc.a leading provider of end-to-end cloud software solutions for the alternative investment management industry, today announced the acquisition of Smonik Systems, a leader in data management. Smonik provides industry-leading software that bridges the gap for sponsors (LPs) to process structured and unstructured data. Dynamo will enhance its world-class platform with Smonik’s automated products for data collection, extraction, validation and reconciliation.
“As financial markets experience renewed stress, Dynamo has calibrated its business to deliver robust, best-in-class software to alternative asset managers and institutional investors,” said Dynamo’s CEO. Hank Boughner. “At Dynamo, we have built our stack to do the heavy lifting – eliminating multiple repetitive, manual processes with configurable dashboards, workflows and reports. Increasing our business with Smonik’s proprietary data management and reconciliation software will further fuel our mission to be the leading end-to-end global software platform for the alternative investment ecosystem. We are delighted to welcome their impressive team to the Dynamo family.
The acquisition of Smonik, combined with the Dynamo Data Automation (DDA) software, underscores Dynamo’s unwavering commitment to focus on eliminating labor-intensive processes, especially those related to data extraction and validation. Endowments, foundations, pensions, family offices and funds of funds (FOFs) will benefit from Smonik’s ability to reduce or completely eliminate manual data entry and processing. For example, with Smonik’s software, LPs can automate data collection and extraction for all investment types – including alternatives – while taking a data-agnostic approach to reconciling two sets of data.
“Ultimately, the combined power of Dynamo and Smonik is unparalleled,” said Sethu Bijumalla, CEO and co-founder of Smonik Systems. “By joining Dynamo, a company backed by Blackstone and Francisco Partners, we are excited about the additional resources and support to further extend the value of Smonik to private investment clients. Additionally, both of our companies are built on a culture of excellence, with seasoned professionals powering innovative, high-growth software that simultaneously enables customers to increase efficiency, reduce costs, and minimize operational risk.
“This is truly a win-win solution for current and potential Dynamo and Smonik customers,” added Stephen Hixon, Director and Co-Owner of Smonik. “Dynamo leads the race in this industry by delivering compelling end-to-end software, and now, with Smonik, the company is further cementing its leadership in data automation for LPs. We are proud to be part of the next chapter in Dynamo’s history.
Dynamo and Smonik are both headquartered in the Boston, MA area, allowing operations, sales, marketing, and product innovation teams to work closely together to ensure seamless integration.
About Smonik Systems, LLC.
Smonik Systems, now a Dynamo brand, provides data management and reconciliation services to the financial services industry. Drawing on its extensive experience in investment operations, Smonik prides itself on developing tools to automate manual back-office processes. The proprietary, best-in-class software provided by Smonik focuses on automating the entire data management workflow. This includes the collection, extraction, transformation, reconciliation and integration of structured and unstructured data. For more information, visit our website Where follow us on LinkedIn.
About Dynamo Software, Inc.
Dynamo Software’s mission is to be the leading end-to-end global cloud software platform for the alternatives ecosystem, serving the information sharing and analytical data needs of our constituents. Since 1998, the company has provided highly configurable, industry-tailored, cloud-based investment management, reporting and data management software solutions to the global alternative investment industry. Dynamo’s cloud-based solutions serve the private investment landscape, including private equity and venture capital funds, real estate investment firms, infrastructure, hedge funds, endowments, pensions , foundations, prime brokers, funds of funds, family offices and fund administrators. The Dynamo™ platform has improved productivity across the entire alternative ecosystem, including CRM, fundraising, transaction management, research management, investor servicing, portfolio management and compliance teams around the world. Dynamo has a global footprint with operations in North America, EMEA and APAC.
For more information, please visit www.DynamoSoftware.com.