WEST CHESTER, Pa.--(BUSINESS WIRE)--Financeware, a leading wealth management fintech platform and NewSpring Holdings company, today announced it has expanded the breadth of its portfolio with the acquisition of QUODD Financial Information Services, a leading provider of financial market data and information analysis tools for the wealth management industry. The acquisition reinforces Financeware’s commitment to actively identifying and acquiring top innovative and complementary companies across the wealth space.
QUODD aggregates, manages, and streams a holistic set of real-time market data sourced from all North American exchanges. QUODD’s real-time, interactive data workstation is equipped with robust tools that enable wealth managers to easily analyze market data to derive and capitalize on market insights. In addition, QUODD’s data offering can be seamlessly integrated directly into a wealth management firm’s existing technology applications, including other third-party software. This gives firms cost-effective, flexible access to market information they can use to make better investment decisions on behalf of their clients.
“In today’s increasingly data-driven and hyper-competitive world, wealth managers need access to real-time, accurate, and actionable market data that doesn’t break the bank," said Kevin Rafferty, CEO of Financeware. “This macro trend is consistent with our mission. Financeware is committed to expanding our portfolio of offerings to provide innovative solutions to the wealth management industry at an attractive price point. QUODD’s ability to deliver easy-to-integrate, cost-effective market data solutions makes them a perfect fit for our strategy.”
QUODD will be combined with the data offering of VMS, another Financeware business unit that delivers smart data and information flows in a single, streamlined format. Together, QUODD and VMS Data will provide an extensive set of comprehensive data solutions for the wealth management industry spanning multiple asset classes and delivery channels.
“The QUODD organization is extremely excited to become part of Financeware and collectively, in tandem with VMS Data, we will possess an impressive array of capabilities across the data space,” said Dennis Cassidy, President of QUODD Financial Information Services. “Not only will we be delivering direct data feeds to our clients, we will also offer a normalized data feed across all asset classes. In addition, as part of our future initiatives, we will be expanding into global markets, allowing us to provide our clients with an even wider choice of products and services from a broader array of vendors. Lastly, we will remain focused on our commitment to provide our clients with state-of-the-art and affordable market data offerings.”
Financeware is the industry’s leading fintech platform company focused on driving strategic growth and expansion of innovative companies across the new wealth management space. Established by NewSpring Holdings in 2018, Financeware was born of a need to connect winning solution sets to the fast-moving targets, partners and market relationships playing out across the entire wealth management sector. With a deep history of game-changing wins driven by broad and deep market leadership, the group drives strategic growth of portfolio companies focused in key areas of wealth management, financial advisory, and data management. Financeware’s growing portfolio includes Wealthcare, VMS and QUODD. Learn more at www.financeware.com.
About NewSpring Holdings LLC
NewSpring Holdings, the dedicated, diversified holding company within NewSpring, with a strategy focused on control buyouts and platform builds, brings a wealth of knowledge, experience, and resources to take profitable, growing companies to the next level through acquisitions and proven organic methodologies. Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages approximately $1.7 billion across four distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. Visit NewSpring at www.newspringcapital.com.
About QUODD Financial Information Services
QUODD Financial Information Services provides a real-time data management solution poised to revolutionize the integration, delivery and use of live data. The company's solution is based on a proprietary platform technology which allows an enterprise complete flexibility in content selection as well as customized delivery with personalization down to the seat level (a radical improvement over existing rigid data solutions that force all enterprises to accept a standard delivery format and defined data set). Furthermore, because QUODD's platform seamlessly integrates all third party market data within a company's own internal systems/databases, and the entire solution is centrally-managed, it eliminates the need for company resources, thus significantly decreasing the data management costs across an enterprise. The flexibility of QUODD’s data feeds cover all asset classes in North America and soon will include global markets as well. Learn more at QUODD.com.