08 December 2016
Visit aciworldwide.com

Markit to buy Cadis

09 May 2012  |  7468 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
Elizabeth Lumley - Rainmaking Innovation - 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)

Finextra news in your inbox

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

Related stories

Markit and Euroclear team on European loan market services

Markit and Euroclear team on European loan market services

19 December 2011  |  6490 views  |  0 comments
Markit buys quantitative research specialist QSG

Markit buys quantitative research specialist QSG

02 November 2011  |  5461 views  |  0 comments
Markit buys risk analytics specialist QuIC

Markit buys risk analytics specialist QuIC

12 January 2011  |  9464 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit VocaLink.comhttp://www.financialcrimerisk.fiserv.com/aml?r=finextraFind out more

Top topics

Most viewed Most shared
Guesswork alone can crack Visa card security - Newcastle UniversityGuesswork alone can crack Visa card securi...
7648 views 12 comments | 15 tweets | 27 linkedin
OCC to offer fintech firms bank charter statusOCC to offer fintech firms bank charter st...
7515 views comments | 25 tweets | 15 linkedin
China tops world fintech rankingsChina tops world fintech rankings
7437 views comments | 36 tweets | 30 linkedin
EBA bends under weight of PSD2 mandatesEBA bends under weight of PSD2 mandates
6668 views comments | 34 tweets | 45 linkedin
Fed Governor sounds warning on alternative credit scoring dataFed Governor sounds warning on alternative...
6570 views comments | 20 tweets | 22 linkedin

Featured job

Find your next job