Financial information services giant Markit this morning announced that it has agreed to acquire Wall Street On Demand, a company that has specialized in the design, development and hosting of financial services websites and applications.
Wall Street On Demand is based in Boulder, Colorado, has over 350 employees and claims to provide its services to most of the major brokerage firms in the US, Canada, and Australia.
Terms of the acquisition were not disclosed, but we gather all employees will be making the transition to Markit while staying at their current office location.
The transaction, which is subject to customary closing conditions and approvals, is expected to close in the coming weeks.
Markit, founded in 2001, has over 1,500 employees who work from their offices in London, New York, Dallas, Toronto, Amsterdam, Frankfurt, Luxembourg, Tokyo and Singapore. The company provides independent data, valuations and trade processing in order to enhance transparency, reduce risk and improve operational efficiency. Its clients include hedge funds, asset managers, central banks, regulators, rating agencies and insurance companies.