Numerix, a leader in capital markets risk management technology, announced today that it has acquired analytics company FINCAD from Zafin, provider of Product and Pricing SaaS solutions for global financial institutions.
The combination of Numerix and FINCAD will bring together two of the industry’s most preeminent independent providers of analytics for the capital markets. Together, Numerix and FINCAD are deeply penetrated across the capital markets ecosystem, including sell-side, buy-side, corporate and insurance market customers.
Today, thousands of financial institutions across the globe – either directly or through the combined partner channel – will be making trading and risk management decisions with the use of analytics and SaaS platforms provided by Numerix.
“Bringing together Numerix and FINCAD is a significant moment for all capital markets participants. Analytics are the differentiators in terms of making the right investment decisions. This combination is a game changer for the industry, allowing Numerix clients to use the most robust front-to-risk decision making software with their choice of best of breed analytics,” said Steven R. O’Hanlon, President and CEO of Numerix.
“While both companies started at a similar point in time but took on servicing different segments of the market, it has become clear to me through the process that FINCAD shares a similar DNA to Numerix. This is a natural fit and I am very excited about the opportunities that lie ahead.”
“Zafin has over the past year worked closely with the FINCAD team to ensure they are set up for growth with successful executions of revamped product and customer success strategies and Numerix now provides FINCAD an excellent avenue to realize their full potential,” said Al Karim Somji, CEO of Zafin. “I want to thank the FINCAD team for their dedication and commitment and wish them all success as part of Numerix while enabling Zafin to continue its focus on empowering global financial institutions as they accelerate their efforts to modernize and transform their business with Zafin’s Product and Pricing SaaS platform.”
Terms of the transaction are not disclosed.
