Information services provider Markit has acquired a corporate actions and post-trade processing specialist.
The firm has agreed to buy Information Mosaic, in a move that will help it extend its corporate actions service and support the full trade lifecycle.
Information Mosaic employs 200 people in Dublin and New Delhi, with additional offices in key financial hubs such as London, New York and Singapore. Its client base includes banks, asset managers, sovereign wealth funds, custodians and exchanges.
The deal will see it merged into Markit’s solutions division. It will be lead by Paul Taylor, who will report to co-head of the solutions business, Michele Trogni.
“Information Mosaic is known for its leadership in corporate actions, a critical, complex and challenging area of operational risk for many financial institutions,” said Trogni.
“The combination of deep domain expertise, data and technology assets created by this acquisition will position Markit as a leading provider of end-to-end corporate actions services.”
Financial details of the transaction were not disclosed. The deal is expected to finalise in Q3 2015.