A New Chapter Opens for Vermeg, the Financial Software Publisher Born in Tunisia and Now an International Player. Advent, the investment fund, announced on Monday, November 2, 2026, the signing of an agreement to acquire the group from Charterhouse Capital Partners and its founder, Badreddine Ouali. A subsidiary wholly owned by the Abu Dhabi Investment Authority (ADIA) will participate in the operation as a minority co-investor.
Beyond the financial transaction, the announced prospects place a strong emphasis on Tunisian skills. According to additional information provided to Tunisie Numérique, Mike Ettling, Advent’s operating partner and future president of Vermeg, expressed his confidence in Tunisian talent and the desire to strengthen the group’s presence in Tunisia, with the aim of turning it into a platform to access more international markets.
Advent intends to accelerate investments in Vermeg’s products, its artificial intelligence capabilities, and its relationships with customers worldwide. Badreddine Ouali will maintain a stake in the company and will continue his strategic involvement. The closing of the acquisition is expected in the first quarter of 2027, subject to the usual approvals and conditions.
The Essentials
Investment: Advent signs an agreement to acquire Vermeg, with a subsidiary of ADIA as minority co-investor.
Tunisia: Tunisian skills are highlighted in growth prospects, with an expressed intention to strengthen the group’s presence in the country.
Continuity: Badreddine Ouali will remain a shareholder and will become vice-president after the transaction is completed.
Innovation: accelerated investments in products, artificial intelligence, and international development.
Timeline: closing expected in the first quarter of 2027, subject to regulatory approvals.
Advent and ADIA, Two Partners for a New Growth Phase
The announced arrival of Advent marks a new stage in Vermeg’s shareholding. The international investment group will lead the operation, while a subsidiary wholly owned by Abu Dhabi’s sovereign wealth fund, ADIA, will participate in a minority capacity. The sellers are Charterhouse Capital Partners and Badreddine Ouali, who will remain an investor himself.
Founded in 1984, Advent states that it manages more than $109 billion in assets as of June 30, 2026, with 18 offices across five continents and 460 investments made in 45 countries. These figures illustrate the international dimension of the new investor and its experience in guiding companies at various stages of development.
For Douglas Hallstrom, chief executive officer at Advent, Vermeg benefits from enduring trends: increasing regulatory complexity, harmonization of post-trade operations, and the growing importance of the sovereignty of financial infrastructures.
Advent intends to rely on the group’s domain expertise and software to support innovation, growth, and relationships with its international clients.
Badreddine Ouali Remains a Stakeholder in Vermeg’s Future
One of the structural points of the agreement is the continuity of the founder’s commitment. Badreddine Ouali will retain a stake in Vermeg and, once the deal is finalized, will serve as vice-president, with involvement in strategic priorities and client relations.
In the press release announcing the deal, he expresses pride in the work accomplished by the teams and sees in Advent’s resources and experience a means to support a new phase of the company’s development.
The founder’s continued presence alongside the new investor is an important element of continuity, for both employees and clients who rely on Vermeg’s technologies.
Mike Ettling, Advent’s operating partner and an experienced enterprise software executive, is slated to become Vermeg’s president upon the closing of the transaction. He also chairs Sapiens, a specialist in insurance technologies, and Syspro, a software publisher for the manufacturing industry.
Mike Ettling Highlights Tunisian Skills and the Country’s Potential
The Tunisian dimension of this operation goes beyond Vermeg’s international journey. According to a supplementary communication forwarded to Tunisie Numérique, Mike Ettling stressed that this investment demonstrated trust in Tunisian competencies and the level of technological development and know-how reached by Tunisia.
The document also notes his willingness to further develop the group’s presence in Tunisia, by leaning more on local expertise and expanding its footprint.
Tunisia as a Platform for International Development
Among the directions mentioned is the ambition to make Tunisia a platform enabling Vermeg to access a greater number of international markets, by mobilizing more of the technological skills developed in the country.
This perspective highlights the role that Tunisia could continue to play in Vermeg’s international growth strategy. The country already serves as a base of technological skills mobilized in the development of financial software.
The anticipated strengthening of this presence could represent an opportunity for the software development, financial engineering, and artificial intelligence professions. It could also consolidate the role of Tunisian teams in designing technological solutions intended for international financial institutions.
These orientations complement Advent’s international communiqué, which outlines the global ambitions of the acquisition. No investment amount specifically earmarked for Tunisia, no hiring targets, and no timetable for local development have been announced at this stage.
Two Lines of Business at the Heart of Financial Infrastructures
Vermeg currently organizes its activity around two pillars. The first, dedicated to capital markets, covers post-trade processing and the management of financial guarantees, or collateral.
Its solutions are used by central banks, clearing houses, central securities depositories, custodians of securities, and financial institutions operating in the markets.
The second pillar is dedicated to life and health insurance, with central contract management systems, mainly intended for insurers in France and in the Benelux.
These software systems participate in processes essential to the functioning of financial institutions, where reliability, security, and regulatory compliance are major requirements.
On its corporate site, Vermeg reports more than 160 clients in over 40 countries, including at least 24 central banks, and notes that more than 30% of its workforce is engaged in research and development.
Artificial Intelligence Among the Priorities of the Next Phase
Advent announces its intention to support Vermeg’s leadership in accelerating investments in products, artificial intelligence, and client support.
For financial institutions, these directions could open opportunities in automating complex processes, improving operational efficiency, and modernizing systems subject to stringent regulatory requirements.
The roadmap aligns with the specialization already undertaken by Vermeg. In 2024, the group announced the sale of its RegTech “Agile” division to Regnology to focus more resources on collateral management and insurance.
The new agreement thus fits within the continuation of a strategy focused on software that is critical for financial institutions, with strengthened innovation prospects.
A Success Born in Tunisia and Developed Internationally
For the Tunisian ecosystem, the operation concerns a company whose international development is closely tied to technological skills formed and mobilized in Tunisia.
Vermeg still has operations in Tunis, on the Berges du Lac, alongside its presence in several international financial centers.
This journey has been built in several stages. In 2018, the European Bank for Reconstruction and Development (EBRD) announced a loan of €25 million to support the takeover of the British publisher Lombard Risk and strengthen the group’s international expansion.
In June 2026, Vermeg received the International Excellence Award at the Tunisia Investment Forum, a distinction already reported by Tunisie Numérique.
The announced arrival of a new international investor, combined with the expressed will to strengthen the Tunisian implantation, gives new visibility to the technological know-how developed in the country.
It also underscores the ability of a company from the Tunisian ecosystem to build a recognized position on demanding international markets, notably in banking software, financial infrastructures, and insurance technologies.
An Operation Expected in the First Quarter of 2027
The transaction still needs to clear the usual steps, notably regulatory approvals, before its planned completion in the first quarter of 2027.
The financial details of the agreement, including the acquisition price and the exact equity stakes, have not been disclosed.
For Vermeg, the announcement marks a new stage in its international development. The anticipated arrival of Advent and a co-investor linked to ADIA, the continuity of Badreddine Ouali’s engagement, and the emphasis on Tunisian skills outline growth and innovation prospects, with Tunisia expected to continue playing a role in the group’s global ambitions.
