Deutsche Börse has acquired a minority stake in analytical data firm Trifacta as part of a push to drive growth in its data services business.
Trifacta, based in San Francisco, trawls large volumes of unstructured and diverse data, enriching and cleansing the content for immediate insights and use in analysis tools. The firm counts Google, New York Life and PepsiCo amongt its 8000-strong client roll call.
The undisclosed investment in Trifacta was made by the German exchange's venture capital arm DB1 and will see Thomas Curran, advisor for innovation and technology to the bourse join the non-executive board as an observer.
Ankur Kamalia, MD & head of venture portfolio management and DB1 Ventures, Deutsche Börse, says: “We have invested into Trifacta in order to create new data driven products and services through efficient wrangling of our diverse and large data pools. With Trifacta Enterprise, we can explore new extensions in our data services offering in areas like risk management, investment decision making and trading analytics."