Vista Equity Partners has completed its acquisition of the Trade and Risk Management division of Thomson Reuters, following an initial acquisition agreement announced Sept. 23, 2011. The new company will be called Turaz. The value of the deal was not disclosed.
Headquartered in London, with offices across the world, Turaz will be headed by Bret Bolin as president and CEO. Bolin most recently was CEO at P2 Energy Solutions, a provider of software, data and services to the upstream oil and gas industry.
The firm is simultaneously releasing a new version of Kondor+, its flagship trade and risk management software. The software offers upgraded third-party pricing and analytics, market data and other extended market capabilities, as well as a scalable architecture for real-time reporting and simulation. The latest version of Kondor+ expands cross-asset class coverage, including full support for commodities, cash and derivative trading, front-to-back.
Closing this deal with Thomson Reuters and acquiring what is already a very successful business in its own right is a great strategic transaction for Vista, says Robert F. Smith, Vistas founder and CEO. We will apply our proven expertise in growing dynamic, successful technology-based organizations that deliver a great customer experience. We look forward to supporting the Turaz management team as they continue to grow the company and realize its full potential.
Existing executive John Palmiero will lead global sales and marketing, and Boris Lipiainen will lead the product management and development functions. New hires include Andrew Hicks as head of all general and administrative functions, and Alan Somerville, who will lead global client services and support.
This is an exciting time to be joining a company thats singularly focused on delivering trade and risk management software, says Bret Bolin, president and CEO of Turaz. My team is passionate about providing our clients with the tools they need to manage risk effectively in todays market. Moving forward, our strategic priority will be to look at how we build on our current product roadmaps to ensure our customers receive maximum added value from the software and services we deliver. This commitment is demonstrated by the launch of the latest version of Kondor+, which has been positively received by both new and existing clients.
(CG)