Markit Announces Acquisition of Reporting and Data Specialist CoreOne
Deal valued at $200 million boosts Markit’s reporting and data management product offering.
The acquisition, valued at $200 million, is expected to close in Q4 2015 subject to regulatory approval. Markit will take on CoreOne's key products ─ RegOne (trade execution and regulatory reporting), DeltaOne (index and ETP coverage), VistaOne (data warehouse, reporting and documentation) and PrimeOne (prime brokerage services) ─ all of which will be integrated into its solution portfolio.
"CoreOne is a great fit for Markit," says Lance Uggla, chairman and CEO of Markit. "Their services will strength our offerings and will allow us to better serve our customers. The transaction is consistent with our long-term strategy to accelerate organic growth through acquisitions."
Earlier this year Markit also acquired Information Mosaic (June), a solutions provider for corporate actions, asset servicing and securities processing, and analytics, and the Halifax House Price Index from Lloyds Banking Group (March). In January 2014 Markit completed the acquisition of London-based portfolio management system provider thinkFolio, following the procurement of enterprise data management provider Cadis in May 2012.
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