Netik completes Buyout from The Bank of New York Mellon Corp. and Acquires Capco Reference Data Services with private equity investment from Symphony Technology Group
Netik extends business to include Investor Services functions for Reference and Market Data, to provide pre–populated data marts/warehouses.
London/New York/San Francisco, Calif., February 11th, 2008?Netik LLC, a leading financial software company delivering data warehouse solutions for data management and reporting, completed a buyout of the Netik business from The Bank of New York Mellon Corporation and simultaneously acquired Capco Reference Data Services (CRDS) from Capco. The transaction was achieved through a strategic investment by Palo Alto based Symphony Technology Group (STG).
Netik has known for some time that the Netik solution for Reporting and Data Management should be provided as both software and as a service. CRDS is a specialized Business Services Provider (BSP) for reference and market data and has understood the need for a ’Container’ of data at the client site to facilitate data distribution to downstream systems. The union of these two businesses is thus highly complimentary and is unique in our market place, as the combined service and product will provide the capability to a) pre–populate the data warehouse with reference and market data; and b) to continually maintain the reference and market data content by Netik performing as a Business Service Provider.
This unique, end–to–end, proposition promises powerful market impact and tremendous synergy. The new business is led by John Wise as Chief Executive Officer and Colin Close as President. Marlin & Associates New York LLC were exclusive strategic and financial advisor to the Netik management team.
John Wise, CEO and original founder, Netik, comments: "Netik’s focus as a data warehouse company for data management and reporting in the investment industry has resulted in a blue chip customer base that includes leading Asset Managers, Prime Brokers, Fund Administrators, Outsourcers and Custodians along with strategic partnerships with Advent Software’s Genevaï¿½ and Thomson Financial’s PORTIA. CRDS has excellence in market and reference data operations – aggregating and cleansing over 100 source feeds and supplying information to 9 out of the top 10 securities firms globally. Netik’s clients and prospects are keen for Netik to provide pre–populated multi source and multi view reference data content to data warehouses/marts and deliver this via fully managed services (BSP). Equally critical is removing the need for handling dozens of source data feeds that require programmers and operational resources to deliver what is now an off–the–shelf service provided by Netik. We believe this exclusive combination of excellence in software and services will result in Netik’s ability to offer a unique solution to address market and reference data."
William Chisholm, Managing Director, Symphony Technology Group, states: "We are excited by the opportunity to work with Netik management to capitalize on Netik’s positioning as a leading supplier of data management and reporting solutions to the investment industry, as well as the opportunity to combine this capability with CRDS to deliver compelling value to the entire global securities market place."
Bernard Horn, long–serving non–executive Director, Netik LLC and ex–main board director of NatWest Group, adds: "Netik has enjoyed great success providing solutions to leading financial institutions as a software technology company. The management teams of both Netik and CRDS have a long heritage with hundreds of years of combined experience in the securities industry. By combining these two highly skilled teams, a new and powerful force is created that understands the market and the need to improve data, information and operations automation within our industry. This is a services as well as a technology play that is an exciting evolution for the business and we all expect the new Netik to do very well." Post the acquisition, Netik has over 260 staff in five regions: California, New York, London, Dubai and Bangalore servicing over 80 financial institutions in Asia, Middle East, Africa, Europe and North America.
Netik (www.netik.com) is a data warehouse solutions company for data management and reporting. Netik’s focus is in financial information automation, aimed at increasing efficiencies, reducing risk and improving client service for the asset management, broker, custodial, fund administration, prime brokerage and wealth management/private banking markets within the Securities and Banking Industry.
Netik’s value proposition is focused on solving the perennial problems associated with how financial firms manage and derive valuable, reliable information from internal and external data. Netik solutions address the fundamental requirements for integration, cleansing, rationalization and reconciliation of data from an ever increasing numbers of sources, coupled with the need to warehouse and deliver data as accurate information for primary front–line business usage. Netik offers these solutions as software, via ASP, fully outsourced services (BSP and BPO) and boutique information acquisition and delivery services for Indexes and ETFs.
About Symphony TG
Symphony Technology Group (STG) is a strategic holding company that helps companies maximize operational efficiencies in the enterprise software and services market, with a particular focus on the retail and consumer packaged goods industries. With years of deep operational experience to draw upon, STG companies can leverage strong personal networks, vast financial and operational resources and a history of excellence to empower their clients’ success today and tomorrow. STG is actively engaged with each Group company, providing the strategic insight needed to achieve business performance and revenue growth through innovation. Headquartered in Palo Alto, Calif., STG is a $1.2 billion strategic holding company that employs more than 7,000 employees worldwide across its companies. For more information, visit http://www.symphonytg.com.
MassingPR, LLC for Netik
+1 (917) 293 2405
BNY Mellon Corporation
+44 (0) 207 163 3230
Symphony Technology Group
+1 (650) 906 9771
About Marlin & Associates
Founded in 2002, Marlin & Associates New York LLC is a boutique investment banking and strategic consulting firm focused on providing highly strategic, transaction-related services to U.S. and international middle–market firms engaged in technology, information, on-line media and business services. Marlin & Associates’ professionals have advised on over 200 successfully completed transactions in the sector. The firm is based in New York City with a Washington, DC office and has been the recipient of numerous awards.
In December, Marlin & Associates was recognized as the Middle Market Investment Banking Firm of the Year. In addition, Marlin took top honors in three "Deal–of–the–Year" categories. In July, the firm was acknowledged as the Middle Market Financing Agent of the Year — Equity, and also was awarded honors in three Middle Market Financing "Deal-of-the-Year" categories.
Michael Maxworthy | (646) 495-5141 | Contact@MarlinLLC.com | www.MarlinLLC.com