Axioma acquires the risk model and performance attribution components of Goldman Sachs Asset Management's PACE system, as well as certain intellectual property, including pending patent applications.
New York, September 10, 2005 - Sebastian Ceria, the Chief Executive Officer of Axioma, Inc, a leading
provider of portfolio construction and risk analysis software, announced
today that Axioma and Goldman Sachs Asset Management ("GSAM") completed a
definitive assignment and cross-licensing agreement in August of 2005.
As part of the agreement, Axioma acquired the risk model and performance
attribution components of GSAM's PACE (Portfolio Analytics and Construction
Environment) system, as well as certain intellectual property, including
pending patent applications. Ceria stated that the agreement with GSAM will
enable Axioma to rapidly develop and commercialize risk models, risk
management and performance attribution analytics.
"This acquisition is a critical step in the expansion of Axioma's
offerings. We are extremely impressed with the design of PACE, and the
quality and performance of the PACE-generated risk models," said Ceria.
"Axioma's best-in-class optimization software is a natural complement to
GSAM's state-of-the-art risk models and return attribution system", Ceria
added.
Axioma's Chairman of the Board, William Guttman said, "By combining the
unique approach to risk in PACE with our own proprietary IP, Axioma will
deliver a new and demonstrably superior risk management, portfolio
construction and performance attribution software platform to the investment
community."
About Axioma
Axioma, Inc., headquartered in New York City, is a private company that develops, markets, and implements optimization modeling and decision support software for the financial services industry. The company was founded in 1998, and since then has helped leading financial firms reduce risk, increase returns and improve operational efficiency. PortfolioPrecision® software is an industry-leading portfolio construction and rebalancing application. "PortfolioPrecision" is a registered trademark of Axioma, Inc.
