Reuters bought two risk management software providers Monday that it says will expand its range of capabilities to address the growing demand for pre- and post-trade services.
Reuters says it acquired Application Networks and Palo Alto for $41 million to meet the needs of banks and hedge funds that require “real-time” technology.
“We are committed to growing Reuters Trade and Risk Management as a key product offering, and this acquisition shows our determination to do this,” says Peter Moss, global head of Reuters enterprise solutions. “Managing the trade process and associated risk is increasingly crucial to our clients, and we aim to offer them an outstanding product backed by Reuters global support network.”