Markit secures purchase of CoreOne Technologies
12 August 2015 New York
Image: Shutterstock
Financial information provider Markit has acquired CoreOne Technologies, a global provider of regulatory reporting index management, data management and prime brokerage services.
The acquisition, to be finalised in Q4, is valued at approximately $200 million and will be funded using cash and Markit鈥檚 credit facility.
Following closing, CoreOne鈥檚 four core products, RegOne, DeltaOne, VistaOne and PrimeOne will be integrated into Markit鈥檚 information and solutions divisions.
PrimeOne鈥檚 prime brokerage services will extend Markit鈥檚 software offerings, while DeltaOne鈥檚 index and exchange-trade product (ETP) coverage and user interface will enhance its index and ETP data management business.
Lance Uggla, chairman and CEO of Markit, said: 鈥淐oreOne is a great fit for Markit. Their services will strengthen our offerings and will allow us to better serve our customers.鈥�
Rob Flatley, CEO of CoreOne, said: 鈥淲e鈥檙e excited about joining Markit and the benefits this will bring to our customers and employees.鈥�
鈥淲e look forward to enhancing our offerings with Markit鈥檚 datasets, analytics and global distribution capabilities as we continue to deliver best in class services to our customers.鈥�
The acquisition, to be finalised in Q4, is valued at approximately $200 million and will be funded using cash and Markit鈥檚 credit facility.
Following closing, CoreOne鈥檚 four core products, RegOne, DeltaOne, VistaOne and PrimeOne will be integrated into Markit鈥檚 information and solutions divisions.
PrimeOne鈥檚 prime brokerage services will extend Markit鈥檚 software offerings, while DeltaOne鈥檚 index and exchange-trade product (ETP) coverage and user interface will enhance its index and ETP data management business.
Lance Uggla, chairman and CEO of Markit, said: 鈥淐oreOne is a great fit for Markit. Their services will strengthen our offerings and will allow us to better serve our customers.鈥�
Rob Flatley, CEO of CoreOne, said: 鈥淲e鈥檙e excited about joining Markit and the benefits this will bring to our customers and employees.鈥�
鈥淲e look forward to enhancing our offerings with Markit鈥檚 datasets, analytics and global distribution capabilities as we continue to deliver best in class services to our customers.鈥�
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