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Eze Software Group to acquire TKS Solutions

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Eze Software Group is to acquire TKS Solutions, a specialty software provider of shareholder and partnership accounting tools. The value of the deal, which is expected to close next month, has not been disclosed.

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.
 
“We are excited to add the TKS products, people and domain expertise to our company,” says David Quinlan, Executive Managing Director at Eze Software Group. “Currently we have excellent portfolio-level accounting tools that allow us to produce Net Asset Values (NAV) for our clients, but many of our clients ask for tools that produce reports focused on shareholder and limited partner accounting. Adding Penny is a logical extension of our current portfolio accounting capabilities.”
 
“This is a fantastic new partnership for TKS.  Our complementary product lines and company cultures are a perfect fit. The global sales and support infrastructure of Eze Software Group will help us accelerate our growth around the world,” says Ron Kashden, Founder of TKS. 
 
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 USD500 billion in assets under management.  
 

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