Markit to Acquire Information Mosaic
Acquirer's corporate actions service will be further supported by enterprise software
Financial information provider Markit says it has agreed to acquire corporate actions and post-trade securities processing software provider Information Mosaic.
Information Mosaic's enterprise software will allow Markit to extend its corporate actions service to support the full corporate actions trade lifecycle and enhance Markit's asset-servicing solutions.
Michele Trogni, managing director and co-head of solutions at Markit, said: "Information Mosaic is known for its leadership in corporate actions, a critical, complex and challenging area of operational risk for many financial institutions."
Information Mosaic has 200 employees based primarily in Dublin and New Delhi. It will be integrated into Markit's Solutions division and led by Paul Taylor, managing director, reporting to Trogni.
Financial terms were not disclosed. The transaction is expected to close in the third quarter of 2015.
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