Pico to acquire financial analytics firm Corvil

Pico to acquire financial analytics firm Corvil

US-based financial infrastructure company Pico has reached an agreement to acquire Irish data analytics vendor Corvil.

The combined company will have a workforce of over 375 staff delivering a wide range of Infrastructure-as-a-Service and real-time performance analytics to a global client base of over 400 banks, exchanges, asset managers, financial technology vendors and trading firms.

Jarrod Yuster, founder and CEO of Pico, says: "With Corvil, we can deliver full transparency into our clients’ trading and IT operations while addressing the challenges that come with rapid expansion into new global markets.”

In the combined company, Corvil CEO Donal Byrne will take up the position of chief technology officer, reporting to Yuster, with global responsibility for product, marketing and data science.

The company will operate under the Pico brand while the Corvil name will continue to be used for its portfolio of products and services.

Financial terms were not disclosed.

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