Markit Nabs Information Mosaic

Markit has acquired Information Mosaic, which specializes in software solutions for corporate actions, asset servicing and securities processing, and analytics.

"Information Mosaic is known for its leadership in corporate actions, a critical, complex and challenging area of operational risk for many financial institutions," Michele Trogni, co-head of solutions for Markit, said in a statement. "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."

Information Mosaic has five main offerings: IMSecurities, IMActions, IMAnalytics, IMConnecting and IMBridge.

IMSecurities offers asset servicing and securities processing firms tools for monitoring risk, and managing holdings and transaction history information. IMActions is an automated solution to help firms manage corporate actions processing. IMAnalytics leverages data from IMAnalytics and IMSecurities to provide a full range of analytics reports.

The web-based IMConnecting is a "self-service window to the post-trade environment for front-office and end-customer users," according to the vendor. And IMBridge is an enterprise service bus that allows users to develop custom services, data translation and enrichment.

Information Mosaic has about 200 employees and offices in Dublin, New Delhi, Singapore, Kuala Lumpur, New York and London.

"Over the past several years, Information Mosaic has transformed its operations with a renewed focus on customers and an expanded core corporate actions and post-trade securities processing business," said Ulrich Kunz, chief executive officer and chairman of Information Mosaic, in a statement. "By combining our company with Markit's global scale and distribution capabilities, both our customers and employees can realize significant benefits."

Financial terms were not disclosed. Markit says the deal is expected to close in Q3.