Data integration outfit Informatica has acquired low latency messaging firm 29West. Terms of the transaction were not disclosed.
Eight-year old 29West counts global banks, major exchanges, electronic trading firms and hedge funds among its more than 130 production sites in the US, Europe, and Asia, with deployments scaling from 10s to 1000s of CPUs.
The privately-held firm is well-positioned in the hot low latency messaging space. 29West recorded its 13th straight quarter of record revenue growth in October, and forecast 70% growth in turnover for 2009.
With the acquisitiom, Informatica gains a foot in the door with 29West's financial services customers and the opportunity to move its own customer base from a reliance on traditional near real-time messaging products to the near-zero latency frontier pioneered by high velocity trading firms.
"The addition of 29West's technology further strengthens our business in financial services, and expands our addressable market with another adjacent category - ultra-low latency messaging," says Girish Pancha, executive vice president, data integration product division, Informatica. "Our customers will benefit from a single data integration platform that addresses the entire range of data delivery needs including batch, near real-time and instant data delivery."