Alveo Receives Majority Investment from Symphony Technology Group
- 18.01.2023 10:30 am
Alveo, a leading cloud-based data management, analytics, and Data-as-a-Service provider for the financial services industry, has entered into a definitive agreement to receive a majority investment from Symphony Technology Group (STG). Alveo supports mission critical access to mastered market and reference datasets for business applications and end users including trading, portfolio management, risk, and compliance workflows.
“We are excited to partner with Mark Hepsworth and the entire Alveo team to continue enabling the management of complex data at scale for its customers. The increasing quantum of data feeds and evolution of regulatory requirements drives a need for modern, cloud-hosted solutions. Through its recent investments in technology and products, Alveo is well-positioned to capitalise on these trends and we will continue to support further product innovation, as financial institutions navigate growing data processing requirements and a complex regulatory environment. We welcome Alveo to the STG family.” said Marc Bala, Managing Director at STG.
“Alveo’s employees, customers and partners, have helped build a leading solution for the financial services sector. We are excited to partner with STG to continue enhancing our customer value proposition and expanding the range of products and services we can offer. STG’s experience in investing in software, data and analytics companies and their capital markets domain experience makes them a great partner to accelerate our progress and the development of Alveo in a highly dynamic and regulated market.” said Mark Hepsworth, CEO of Alveo.
Alveo serves a global footprint of blue-chip financial institutions, including investment banks, asset managers, and market infrastructure institutions with customers across 18 countries and operations in London, the Netherlands, Singapore and New York.
Closing of this transaction is subject to customary closing conditions. Paul Hastings LLP and KPMG LLP advised STG on the transaction.