CHICAGO, May 01, 2025 (GLOBE NEWSWIRE) — Formidium UK Ltd., a wholly owned subsidiary of Formidium Corp., a global leader in fund administration solutions and technology, has successfully acquired assets of Praxonomy Ltd. This strategic acquisition aims to strengthen Formidium’s corporate services portfolio by integrating Praxonomy’s flagship cloud-based board management solution, Boardlogic.
Praxonomy, a UK-based software company, specialized in optimizing board governance through secure, intuitive, and efficient technology. Its primary product, Boardlogic, is a purpose-built collaboration platform designed exclusively for boards of directors. The platform facilitates seamless meeting management, secure document sharing, real-time communication, and informed decision-making, all within a highly secure and cost-effective environment. Praxonomy’s user-friendly approach ensures easy adoption, helping boards enhance governance, efficiency, and compliance.
Nitin Somani, Founder & CEO of Formidium, commented, “We have had a strong relationship with Praxonomy as a customer for many years, and we are thrilled to integrate it into our product portfolio. This acquisition enhances our technology offerings and strengthens our global presence in board management solutions, supported by an exceptional team.”
Jay M. Shaw, Co-founder & CEO of Praxonomy Ltd, added, “Formidium’s asset acquisition marks an exciting milestone for Boardlogic, offering a unique opportunity to connect with a global audience and access its existing client base. With the support of a larger organization, Boardlogic will gain increased visibility, enhanced marketability, and the ability to scale more effectively.”
About Formidium
Formidium is one of the leading fund administrators globally serving alternatives funds. Since 2016, the firm has built a global presence with offices in the U.S., India, Canada, Singapore and UK, supporting over 600 clients, over 1,700 multi-asset funds, and managing $28B+ in assets under administration (AUA) across 25+ jurisdictions.
Formidium’s proprietary technology solutions provide unparalleled flexibility to meet bespoke client needs, far exceeding off-the-shelf systems. The firm delivers comprehensive services to alternative investment funds globally, including Net Asset Value (NAV) reporting, year-end tax and financial reporting, cross-currency integration, and full compliance support. It’s cloud-native, scalable SaaS platform enables automated workflows, real-time data access, and modular capabilities for seamless growth.
Media Contact
marketing@formidium.com
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