The deal, for an undisclosed sum, will give MarkitSERV a client base of more than 60 banks, brokers and exchanges and 400 financial institutions. Logicscope, which employs around 30 people, will be able to utilise MarkitSERV’s post-trade processing services, such as trade confirmation and connectivity to clearing houses. MarkitSERV is a joint venture between Markit, a UK financial data provider, and the Depository Trust & Clearing Corporation, the US post-trade services group.
‘Logicscope’s complementary technology and comprehensive product suite will enable us to offer the same standards of trade processing, connectivity and compliance to FX market participants that we currently offer for credit, rates and equity derivatives,’ said Jeff Gooch, chief executive of MarkitSERV.
The deal highlights how technological advancements, in the form of superfast trading, and sweeping regulatory reform is refashioning the trading process across many asset classes.
Round-up of todays M&A deals
- Salesforce.com will acquire help desk service provider Assistly
Value: US$50 million
Advisers: undisclosed
- ACS, A Xerox Company will expand its business process outsourcing capabilities across Europe by buying the Italian-based, multi-lingual customer care firm, XL World
Value: undisclosed
Advisers: undisclosed
- Twitter to purchase a tech firm called Julpa, which specialises in analysing the way people share information on the social web
Value: undisclosed
Advisers: undisclosed
- Optos, a medical retinal imaging company, will entered into a conditional agreement to acquire the assets and business of the instrumentation division of OPKO
Value: US$17.5 million
Advisers: undisclosed
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- Rearden Commerce, creator of the Deem platform, will buy HomeRun.com, creator of the HomeRun social-buying service and its OfferEngine platform, which powers group commerce programs
Value: undisclosed
Advisers: undisclosed
- The Gores Group, will snap up fiber network and data center operator Alpheus Communications
Value: undisclosed
Advisers: undisclosed
- SAP has acquired German business-to-business e-commerce hub Crossgate to allow customers to collaborate and share data more effectively with partners, suppliers and clients
Value: undisclosed
Advisers: undisclosed
