Markit is to acquire CoreOne Technologies, a provider of regulatory reporting and prime brokerage technology services, for $200 million.
The deal will see the integration of CoreOne’s flagship products (RegOne, DeltaOne, VistaOne and PrimeOne) as Markit looks to extend its data management and prime brokerage software offerings.
CoreOne’s 200 employees in New York, Bangalore, Hong Kong and London will also be integrated into Markit.
“The transaction is consistent with our long-term strategy to accelerate organic growth through acquisitions, and will enhance our position as a leading provider of financial information services,” says Lance Uggla, chairman and CEO, Markit.
CoreOne has more than 500 customers including global banks, asset managers, wealth managers, sovereign wealth funds, investor services firms, custodians and exchanges.
The transaction is expected to close in the fourth quarter, subject to regulatory approval.
Markit in $200 Million Acquisition of CoreOne Technologies
Markit is to acquire CoreOne Technologies, a provider of regulatory reporting and prime brokerage technology services, for $200 million.