In an all-cash transaction, Tradar's strategic acquisition will see the operations and ongoing development of Odyssey InvestmentManager integrated into Tradar's core business. Further details of the acquisition were not disclosed.

"This is a highly logical move from both a product and corporate perspective, and one that will yield significant benefits for clients and prospects," said Gerry Gualtieri, Tradar CEO. "We believe there are significant opportunites to grow the core InvestmentManager client base and also benefits of leveraging functionality for our existing clients. We know users want to do more within Insight, and we have been building out our front office capabilities, which include the addition of compliance and risk analysis modules. In addition to these developments, Tradar clients have told us that scenario analysis and performance attribution are of particular importance. This acquisition accelerates that development significantly. As well as the obvious functional extension we are also inheriting a highly skilled and committed team, who will add significant value to Tradar's operations."

Odyssey InvestmentManager provides sophisticated portfolio modelling, performance and attribution, risk and exposure reporting and scenario analysis. This functionality will be integrated with Insight's core portfolio management and accounting system. Odyssey InvestmentManager's proven capability in fixed income and derivatives further strengthens Insight's current functionality in these asset classes.

"This represents a very positive step for Odyssey InvestmentManager, which forms a strong complement to the existing Insight product," commented Celia Murray, Product Manager for InvestmentManager. "Tradar has demonstrated its commitment to the market with ongoing development of its platform and comprehensive client support, backed by a global presence."

Having established its reputation in the hedge fund and alternatives space, Tradar's recent expansion of Insight's core functionality means the platform now offers much more to the long-only sector. "The integration with the InvestmentManager components will form a particularly attractive proposition to that sector, as well as meeting the growing needs of our existing client base as we continue to invest in the product and service to deliver outstanding functionality for clients," concluded Gualtieri.