IHS Markit acquires Cappitech 11 January 2021US Reporter: Natalie Turner
Image: Monster Ztudio/adobe.stock.com
IHS Markit, a provider in critical information, analytics and solutions, has acquired Cappitech, a provider of regulatory reporting, best execution analysis and business intelligence solutions for the financial services industry.
Cappitech’s cloud-based platform is relied on by more than 200 global banks, brokers, asset managers, hedge funds and corporations.
Of the deal, IHS Markit says: “Capitalising on the established relationship and existing integration, this latest move will deliver unified solutions to the market and solidify IHS Markit’s continued commitment to providing industry-leading regulatory reporting solutions.”
Pierre Khemdoudi, managing director, global equities, at IHS Markit, says: “Regulatory reporting demands will continue to grow rapidly around the globe and customers are looking for a reliable, frictionless and cost-effective way to comply with requirements across jurisdictions.
“Cappitech’s platform complements our existing offering, enabling us to provide the most comprehensive and scalable integrated financial regulatory service to customers.”
Ronen Kertis, CEO and founder at Cappitech, adds: “Based on our extensive engagement with IHS Markit over the past two years, we are confident that combining our mutual successes and sector expertise will enable us to accelerate our product enhancement and services for the benefit of our global clients.”
The details of the financial terms of the deal or a timeline for its completion were not disclosed.
The make-up of the management structure for the combined entity is not currently available.
With its established relationship and integrated systems, IHS Markit explains: “We will rapidly deliver the most comprehensive and reliable regulatory compliance solution on the market, helping clients to improve efficiency, reduce risk, and lower their cost of ownership in regulatory reporting.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Monster Ztudio/adobe.stock.com 