Capco offloads HSD to Mergent


Mergent, Inc., a leading provider of global corporate and financial information, has acquired Historical Securities Database - premium, high-quality, end-of-day securities pricing data distributed to financial institutions -- from Capco Reference Data Services, Inc. (CRDS), a subsidiary of the Capco group. Capco is the leading provider of integrated consulting, processing services and products for the financial services industry. Terms of the transaction were not disclosed.

Historical Securities Database (HSD), with a 20-year record of excellence, is considered by many to be the "gold standard" for zero-tolerance pricing data. To deliver these highly reliable results, HSD takes traditional end-of-day securities prices and subjects them to an exhaustive and meticulous proprietary process of cleansing and verification, including the use of Mergent's EventsData(TM) file to confirm changes. The final verified data are available within hours of market closing.

The acquisition of HSD is one more element in Mergent's long-term growth strategy of providing the highest-quality, most transparent business and financial information to a growing client base around the world.

"Historical Securities Database fits perfectly into our long-term business strategy of growing our business by delivering a comprehensive range of high-value information and services to institutional investors such as index fund and mutual fund managers, and individual clients worldwide," said Jonathan Worrall, Mergent's CEO. "Not only does HSD enhance our product offerings, but its commitment to data reliability, quality and transparency are precisely in line with Mergent's own objectives."

HSD was previously owned by Iverson Financial Systems, Inc., a Sunnyvale, CA-based company specializing in data products and data management services, which was recently acquired by Capco. CRDS, as a unit of Capco, has divested HSD as part of its own business strategy to focus on packaged data solutions and the managed services space.

"We have been quite impressed by Mergent's quality product offerings and reputation for service in the reference data domain, and we have worked closely with them to ensure that client satisfaction and service remain of paramount importance both during the transition and on an ongoing basis," said Predrag Dizdarevic, President, Capco Reference Data Services.

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