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Vista Equity Partners completes acquisition of Thomson Reuters risk unit

01 February 2012  |  7279 views  |  0 Risk

Vista Equity Partners has completed the acquisition of Thomson Reuters' trade and risk management technology business, re-branding the unit Turaz.

Thomson Reuters decided to sell the business in the summer, one of several steps taken as part of a company-wide revamp that has also seen the markets division broken up and CEO Tom Glocer leave.

Vista Equity Partners has hired Bret Bolin as president and CEO of Turaz, poaching him from P2 Energy Solutions, a provider of software, data and services to the upstream oil and gas industry.

Kondor old hands John Palmiero and Boris Lipiainen will lead global sales and marketing and product management and development functions. New to the Turaz team are Andrew Hicks as head of all general and administrative functions and Alan Somerville who will lead global client services and support.

The new firm has also launched the latest version of the trade and risk management software Kondor+, claiming a "new openness and flexibility towards integrating third-party pricing and analytics, market data and other extended market capabilities".

Says Bolin: "Moving forward, our strategic priority will be to look at how we build on our current product roadmaps to ensure our customers receive maximum added value from the software and services we deliver. This commitment is demonstrated by the launch of the latest version of Kondor+; which has been positively received by both new and existing clients."

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