King & Wood Mallesons SJ Berwin advised Euroventures III, a fund led by CEE based private equity firm Euroventures, on the sale of IND Group, a digital banking technology specialist, to Misys for an undisclosed amount.

Euroventures is one of the longest-established and leading independent private equity firms in Central Europe. The firm invests in private companies in innovative industries, with the goal of helping management teams build their businesses into regional companies.

Founded in 1997, IND Group is a leading innovator and supplier of online, mobile banking and personal financial management tools. Euroventures III invested in the company in 2007 with the goal of supporting the continued growth of IND’s product development and expansion plans. IND now operates on three continents in 15 countries, providing proficiency and technology to more than 30 banks worldwide.

Andrew Wingfield, Corporate partner at King & Wood Mallesons SJ Berwin, said: “This was a highly strategic investment by Euroventures, who six years ago saw potential in IND to become a leader in the rapidly evolving e-payments market. It’s a market that continues to develop and something that our clients are excited about.”

Misys specialises in software for banking, capital markets, lending, and enterprise risk and investment management. This acquisition builds on the partnership which Misys signed with IND Group in March 2013 and supports its goal of expanding existing core banking capabilities through the addition of consumer-orientated solutions.

The King & Wood Mallesons SJ Berwin team was led by Corporate partner Andrew Wingfield along with Corporate associate James Darbyshire.