Buy-side technology vendor Linedata has acquired Gravitas, an outsourcing and middle-office technology vendor for the hedge fund space.
Paris-based Linedata will absorb Gravitas' outsourcing services and technology platform that integrates proprietary and third-party tools into its portfolio in response to greater demands from the asset management industry, particularly for the front and middle offices. Gravitas has a client roster of approximately 80 investment management firms across North America.
"We are delighted to welcome Gravitas' clients and employees into Linedata," said Anvaraly Jiva, CEO of Linedata, in a statement. "Gravitas' outsourcing services, combined with our technology platform, will enable us to accelerate our ambitious and innovative Linedata 2018 growth strategy."
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