Linedata has completed the acquisition of middle office technology service provider Gravitas Technology Services.
Gravitas currently supports over 80 asset managers in North America with 2016 revenues of $26.5 million.
By combining its software platforms with Gravitas’ outsourced services, Linedata will now offer tailored services to customers’ requirements and business models.
“Gravitas’ award-winning outsourcing services, combined with our technology platform, will enable us to accelerate our ambitious and innovative Linedata 2018 growth strategy,” said Linedata CEO and founder Anvaraly Jiva.
As part of the acquisition Gravitas will leverage Linedata’s existing presence to distribute its services worldwide.
“Linedata’s technologies and global reach will bring us genuine and unique abilities to extend and improve our range of services,” said Gravitas founder and CEO Jayesh Punater.
The acquisition is the second development in quick succession for Linedata following the launch of an updated version of its portfolio management system, Linedata Global Hedge.
Designed specifically to meet the needs of the hedge fund and institutional investment communities, the new system aims to provide clients with full control of their portfolios and transactions.