Bita Plus plots Nordic expansion

Bita Plus managing director, Simon Tizard, said the deal is aimed at tapping the growth of hedge funds in the Nordic region, which encompasses Sweden, Denmark, Norway, Finland and Iceland.

"As the investment industry faces pressure to raise reporting standards, Swedish hedge fund managers will be under scrutiny to add value to portfolios within clearly understood risk parameters," Tizard said.

He added that Bita Plus software could help Nordic hedge funds better structure their risks.

Bita Plus' services are aimed at pension fund managers, quants, portfolio traders and hedge funds managers. Proventek is an IT consulting firm with around 140 staff.

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