LONDON & NEW YORK & SINGAPORE--(BUSINESS WIRE)--Markit (Nasdaq: MRKT), a leading global diversified provider of financial information services, today announced that it has agreed to acquire Information Mosaic, a leading software provider for corporate actions and post trade securities processing. Information Mosaic’s enterprise software will allow Markit to extend its corporate actions service to support the full corporate actions trade lifecycle and enhance Markit’s asset servicing solutions.
Michele Trogni, managing director, cohead of Solutions at Markit, said: “Information Mosaic is known for its leadership in corporate actions, a critical, complex and challenging area of operational risk for many financial institutions. The combination of deep domain expertise, data and technology assets created by this acquisition will position Markit as a leading provider of end to end corporate actions services.”
Ulrich Kunz, chief executive officer and chairman of Information Mosaic, said: “Over the past several years, Information Mosaic has transformed its operations with a renewed focus on customers and an expanded core corporate actions and post trade securities processing business. By combining our company with Markit’s global scale and distribution capabilities, both our customers and employees can realise significant benefits. We are excited by the future potential for both our company and our customers as part of Markit.”
Information Mosaic has approximately 200 employees based primarily in Dublin and New Delhi, with additional offices in London, New York, Singapore and Kuala Lumpur. Its customers include global banks, asset managers, wealth managers, sovereign wealth funds, investor services firms, custodians and exchanges.
Information Mosaic will be integrated into Markit’s Solutions division and will be led by Paul Taylor, managing director, reporting to Michele Trogni.
Financial terms were not disclosed. The transaction is expected to close in the third quarter of 2015, subject to customary conditions, and is not expected to have a material impact on our financial results this year.
Notes to Editors
Markit is a leading global diversified provider of financial information services. We provide products that enhance transparency, reduce risk and improve operational efficiency. Our customers include banks, hedge funds, asset managers, central banks, regulators, auditors, fund administrators and insurance companies. Founded in 2003, we employ over 3,500 people in 10 countries. Markit shares are listed on Nasdaq under the symbol MRKT. For more information, please see www.markit.com.
About Information Mosaic
Information Mosaic, the market leader in global post-trade securities processing, delivers comprehensive automation and risk management to tier-1 financial institutions. Clients rely on our solutions for the enterprise-wide management and control of their middle- to back-office. With our deep industry knowledge and understanding of multi-regional compliance, process and risk management, we provide clients with the best route for post-trade operational efficiency.