Symphony Technology Group Acquires Majority Stake in Netik
SAN FRANSCISCO—Palo Alto-based private equity firm Symphony Technology Group (STG) has acquired a majority holding in Netik, a provider of financial data warehouses for the securities industry, and combined it with Capco Reference Data Services (CRDS), previously part of existing STG investment Capco.
Netik, formerly 51% owned by the Bank of New York Mellon (BNY Mellon), began discussions with third parties some time after the Bank of New York's merger with Mellon Bank. Sensing that BNY Mellon's
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