Netik completes buyout from BoNY Mellon; acquires Capco Reference Data Services

Netik completes buyout from BoNY Mellon; acquires Capco Reference Data Services

Financial markets software house Netik has bought back the stake in its business that Bank of New York Mellon acquired in 2004 and has simultaneously acquired the reference data arm of financial services consultancy Capco.

Financial terms of the transactions - financed by Symphony Technology Group - have not been disclosed.

Netik says that California-based STG has replaced BNY Mellon - which took a 51% stake in the data warehouse firm in 2004 - as its primary investor.

At the same time, Netik has acquired Capco Reference Data Services (CRDS) - a specialised business services provider for reference and market data - from capital markets consultancy Capco.

Netik says the acquisition will enable it to provide both software and hosted services for reporting and data management.

The combined service and product will provide the capability to pre-populate the data warehouse with reference and market data and to dynamically refresh content with Netik operating as a business service provider.

Netik's original founder, John Wise will lead the combined business as chief executive officer whilst Netik CIO Colin Close has been named president. The merged company will have over 260 staff based in California, New York, London, Dubai and Bangalore.

Commenting on the acquisition of CRDS, Wise says: "We believe this exclusive combination of excellence in software and services will result in Netik's ability to offer a unique solution to address market and reference data."

Comments: (0)