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Laxman Pai, Opalesque Asia:

Abacus Group, IT solutions firm focused on helping hedge funds, announced that it has completed the acquisition of Hedgepoint Solutions, a boutique IT consulting firm based in New York City.

A press note from the IT services consultant for hedge funds and alternative investment firms quoted Vick Manocha, Managing Director of Hedgepoint Solutions as saying: "Abacus Group has been doing some amazing things in the hosted IT space, growing not just throughout the US but also internationally into the European market. I'm excited for us to integrate with such an innovative company."

Founded in 2001, Hedgepoint Solutions has provided a wide array of technology services to businesses across various industries and sectors, with a particular focus on hedge funds, venture capital and private equity firms.

Per the acquisition, Hedgepoint's existing clients will now benefit from the extensive capabilities and features of the Abacus Cloud platform.

"Hedgepoint has developed a great reputation for providing stellar service to their hedge fund, venture capital and private equity clients," said Chris Grandi, CEO of Abacus Group. "We are very excited to join forces to continue our efforts to provide leading edge technology services to the alternative investment management market."

Abacus Group is a provider of hosted IT solutions and application hosting for alternative investment firms - hedge funds and private equity funds - to deploy and manage......................

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