02 August 2015

Markit to buy Cadis

09 May 2012  |  6610 views  |  1 handshake

Financial information vendor Markit has agreed to buy enterprise data management (EDM) specialist Cadis. Financial terms of the deal were not disclosed.

The Cadis EDM platform is used by investment banks, insurance companies, regulators, asset managers and hedge funds to consolidate data from multiple sources within a centralised hub.

Markit says the acquisition comes at a time when financial institutions are becoming increasingly reliant on such platforms to manage their big data challenges, reduce risk and comply with new regulations including Dodd-Frank, Basel III and Solvency II.

The Cadis team - based in offices in London, New York, Boston, Hong Kong, Luxembourg, Manchester, Paris, Sydney and Tokyo - will operate as a business unit alongside Markit's other enterprise solutions. Daniel Simpson, Cadis CEO, will join Markit's executive management team.

Lance Uggla, CEO, Markit, says: "Data management is top of just about every financial institution's agenda; the scale and complexity of the data they are managing have never been greater. Following this acquisition, we will be able to provide our customers with Cadis' market-leading data management solution which comes with a fantastic track record in successful implementation."

Comments: (1)

Elizabeth Lumley - Startupbootcamp - London | 09 May, 2012, 15:39

Interesting...Anything Markit do is interesting, however. Slowly, but surely, are we seeing the rise of the a 'number three' data vendor?

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

19 December, 2011
02 November, 2011
12 January, 2011

Related company news

 

Top topics

Most viewed Most shared
ING Bank introduces voice-activated mobile...
9454 views comments | 26 tweets | 30 linkedin
Will Uber be the Uber of banking?
7637 views comments | 40 tweets | 31 linkedin
Payments and capital markets sectors domin...
6417 views comments | 17 tweets | 18 linkedin
Bank branches key to fending off digital c...
5808 views 11 comments | 21 tweets | 29 linkedin
Singapore hires Citi veteran to lead new f...
5746 views comments | 13 tweets | 5 linkedin

Featured job

c,£100,000 basic £200,000 OTE.
London

Find your next job