Torstone Technology is to acquire Percentile to leverage its risk and compliance offering.
Percentile’s risk management solution, which will form a component of Torstone’s platform, will provide a full-service, cross-asset, global post-trade offering.
The acquisition comes after Torstone revealed plans to significantly expand its London headquarters to accommodate European business growth.
Brian Collings, CEO of Torstone Technology, said: “As part of our global strategy we continue to invest in expanding our product offering, leveraging cloud-based technology to improve the client experience.”
He added: “We are excited to make this acquisition which will enable us to further augment our cloud service offering in the post-trade space as we continue to expand globally.”
Anthony Pereira, CEO of Percentile, commented: “We are proud of our successes achieved to date and look forward to supporting Torstone’s global growth by helping them form a holistic solution that responds to the industry’s need for an integrated post-trade system, as well as helping firms handle their future risk requirements.”
