SunGard buys Kronos Software
14 March 2002 | 8505 views | 0
SunGard Trading and Risk Systems has acquired Kronos Software with a view to adding Web-based trading and real-time market risk management functionality to the Infinity derivatives trading system.
Using Kronos' Web-based trading environment Infinity users will be able to connect to their counterparties online for price discovery and deal execution, says SunGard.
The company will also add Kronos' component-based real-time market risk management technology to Infinity, enabling users to process the very large amounts of data necessary to perform market risk calculations, in real-time.
Amir Khwaja, founder and chief executive officer of Kronos - and a former SunGard staffer - will be vice president, trading development, for the Credient/Infinity business unit.
Steve Husk, president of the Credient/Infinity operating unit of SunGard, says: "Kronos is an important investment for the future development strategy of the Credient, Infinity and Opus solutions."
Financial terms of the transaction were not disclosed.