Markit to acquire Information Mosaic

  • M&A Deals
  • 02.06.2015 01:00 am

Markit (Nasdaq: MRKT), a leading global diversified provider of financial information services, today announced that it has agreed to acquire Information Mosaic, a leading software provider for corporate actions and post trade securities processing.  Information Mosaic’s enterprise software will allow Markit to extend its corporate actions service to support the full corporate actions trade lifecycle and enhance Markit’s asset servicing solutions.

Michele Trogni, managing director, cohead of Solutions at Markit, said: “Information Mosaic is known for its leadership in corporate actions, a critical, complex and challenging area of operational risk for many financial institutions.  The combination of deep domain expertise, data and technology assets created by this acquisition will position Markit as a leading provider of end to end corporate actions services.”

Ulrich Kunz, chief executive officer and chairman of Information Mosaic, said: “Over the past several years, Information Mosaic has transformed its operations with a renewed focus on customers and an expanded core corporate actions and post trade securities processing business.  By combining our company with Markit’s global scale and distribution capabilities, both our customers and employees can realise significant benefits.  We are excited by the future potential for both our company and our customers as part of Markit.”

Information Mosaic has approximately 200 employees based primarily in Dublin and New Delhi, with additional offices in London, New York, Singapore and Kuala Lumpur.  Its customers include global banks, asset managers, wealth managers, sovereign wealth funds, investor services firms, custodians and exchanges.

Information Mosaic will be integrated into Markit’s Solutions division and will be led by Paul Taylor, managing director, reporting to Michele Trogni.

Financial terms were not disclosed.  The transaction is expected to close in the third quarter of 2015, subject to customary conditions, and is not expected to have a material impact on our financial results this year.

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