Standard & Poor's, the foremost provider of financial market intelligence, today announced that it has completed the acquisition of ClariFI, a leading provider of software and services focused on quantitative portfolio management and research.
The acquisition adds portfolio analytics to Standard & Poor's Capital IQ, a leader in web- based professional financial information solutions, and furthers the strategy of providing Capital IQ clients with the highest quality data, analytics and tools that can streamline their workflows and improve decision making. Terms were not disclosed.
ClariFI helps quantitative portfolio managers and researchers decrease the time it takes to research, test, and act on their alpha generating investment strategies. Its open platform, ModelStation, allows clients to integrate their existing datasets and analytical tools while consolidating the workflow within a single software application. ClariFI has a broad client base that includes four of the world's top five investment management firms, hedge funds of all sizes, and proprietary trading desks.
"We have been very successful in providing fundamental research solutions for financial firms, but our clients are increasingly looking for portfolio analytics," said D. Randall Winn, Standard & Poor's Managing Director with responsibility for Capital IQ and Compustat. "With ClariFI, we can address immediate client needs and target new opportunities to serve quantitatively oriented investment managers. Over time, as we integrate ClariFI's technology with Capital IQ, the combined offering will represent one of the most comprehensive and robust financial information and analytical platforms in the marketplace. Moreover, there is potential for further collaboration with other Standard & Poor's services such as Compustat which makes this transaction even more exciting."
"Standard & Poor's Capital IQ team is an ideal partner, with the brand, resources, and distribution capabilities to accelerate our growth. Our respective clients will benefit from the unique combination of data and analytics that will be available in ModelStation and through Capital IQ's web- based platform. Our products and teams are highly complementary and we value Capital IQ and Compustat's track record of success and innovation," said Gioel Molinari, Chief Executive Officer of ClariFI.
"This acquisition furthers S&P's mission to provide global markets with financial market intelligence across a range of asset classes. As importantly, it will immediately add to Capital IQ's ability to give our clients portfolio analytics," said Deven Sharma, Executive Vice President, Standard & Poor's.
ClariFI's team, including Gioel Molinari, co-founder, will remain in place as part of the acquisition and ClariFI's mission will be unchanged. ModelStation will remain an open platform allowing clients to optimize their workflow with any combination of proprietary or third party data sources, risk models, and optimization technologies they choose.