IHS Markit to acquire Cappitech
11 January 2021 UK
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IHS Markit has acquired compliance technology provider Cappitech to expand its suite of global, multi-asset class transaction regulatory reporting offerings to the financial industry.
Cappitech’s cloud-based platform is relied on by more than 200 global banks, brokers, asset managers, hedge funds and corporations.
In 2019, IHS Markit selected Cappitech’s platform as a key component of its Securities Financing Transactions Regulation solution, which is now used by some of the largest financial institutions.
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 were are also not currently available.
News of the deal comes shortly after IHS Markit and S&P Global revealed plans to merge in a move that valued the former at $44 billion.
Douglas Peterson, president and CEO of S&P Global, will serve as CEO of the combined company. Lance Uggla, chairman and CEO of IHS Markit, will stay on as a special advisor to the company for one year following the deal’s closing.
The merger is expected to be completed in the second half of the year.
More recently, IHS Markit unveiled new functionality and enhancements across its securities finance data and analytics platform, including a unique tool that offers daily analytical reports that can complement a firm’s approach to best execution.
The other additions to the product suite involve enhanced corporate actions tools, a stability metrics for measuring programme performance and daily disclosure data on short positions from Chinese exchanges.
Cappitech’s cloud-based platform is relied on by more than 200 global banks, brokers, asset managers, hedge funds and corporations.
In 2019, IHS Markit selected Cappitech’s platform as a key component of its Securities Financing Transactions Regulation solution, which is now used by some of the largest financial institutions.
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 were are also not currently available.
News of the deal comes shortly after IHS Markit and S&P Global revealed plans to merge in a move that valued the former at $44 billion.
Douglas Peterson, president and CEO of S&P Global, will serve as CEO of the combined company. Lance Uggla, chairman and CEO of IHS Markit, will stay on as a special advisor to the company for one year following the deal’s closing.
The merger is expected to be completed in the second half of the year.
More recently, IHS Markit unveiled new functionality and enhancements across its securities finance data and analytics platform, including a unique tool that offers daily analytical reports that can complement a firm’s approach to best execution.
The other additions to the product suite involve enhanced corporate actions tools, a stability metrics for measuring programme performance and daily disclosure data on short positions from Chinese exchanges.
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