First Derivatives, a provider of capital markets technology, has acquired New Jersey-based software company Reference Data Factory (RDF) for up to $10 million (£6 million).
First Derivatives, a provider of capital markets technology, has acquired New Jersey-based software company Reference Data Factory (RDF) for up to $10 million (£6 million).
RDF specialises in security software and data for financial institutions, and will complement First Derivatives’ range of products in financial data management. RDF generated pre-tax profits of $500,000 (£300,000) in 2008.
Garry Wright, chief technology officer of RDF, said: ‘[The deal] gives us additional channels to market our systems and allows us to accelerate our plans by leveraging First Derivatives’ global presence and expertise in market data.’
In the six months ending August, Northern Ireland-based First Derivatives reported a 66 per cent increase in turnover to £11.4 million, while pre-tax profits were up by 36 per cent to £3.1 million.
