Cinnober to acquire market surveillance firm Ancoa

Acquisition set to ‘deepen’ Cinnober’s product portfolio.

Cinnober Financial Technology is set to acquire market surveillance specialist Ancoa, following a three-year relationship.

The acquisition is expected to accelerate Ancoa’s ‘steady growth phase’, although the deal will not see a major impact on Cinnober’s income statement and balance sheet in the short-term.

Terms of the deal were not disclosed.

Cinnober described Ancoa’s services as “highly sophisticated, yet easy to deploy and simple to use”.

“[Ancoa’s] monitoring and surveillance platform helps firms take full control of their regulatory, reputational and operational risks across markets, functions and asset classes,” Cinnober said.

CEO at Cinnober, Veronica Augustsson, explained the addition of Ancoa will ‘deepen’ Cinnober’s product portfolio targeting banks, brokers, exchanges and clearing houses. 

“Cinnober has been in a partnership with Ancoa for the last three years and we’re impressed by their team and their product,” she added.

The deal will also add 10 new clients to Cinnober’s customer base. Ancoa’s client base currently includes the likes of MarketAxess, Convergex and Linear Investments. 

Cinnober concluded a three-month integration will be undertaken effective immediately in order to maximise synergies and leverage cost efficiencies.