PALO ALTO, Calif., August 12, 2015 – Today, Symphony Technology Group (STG) announced the sale of CoreOne Technologies, global provider of financial management and distribution services, to Markit, a leading global financial information services company. CoreOne was acquired by STG in 2008 and currently has more than 500 customers including global banks, asset managers, wealth managers, sovereign wealth funds, investor services firms, custodians and exchanges. The company is supported by a team of 200, with headquarters in New York and additional presence in Bangalore, Hong Kong and London.
Rob Flatley, chief executive officer of CoreOne will join Markit’s executive committee.
“We’re fortunate to have had the opportunity to partner with Rob Flatley and the CoreOne management team and we are confident the company is well positioned to continue its strong growth as part of Markit,” said Marc Bala, Managing Director of Symphony Technology Group.
CoreOne’s highly complementary business will be integrated into Markit’s Information and Solutions divisions.
“We’re excited about joining Markit and the benefits this will bring to our customers and employees,” stated Rob Flatley, chief executive officer of CoreOne. “We look forward to benefitting from Markit’s datasets, analytics and global distribution capabilities as we continue to deliver best in class products and services to our customers.”
“CoreOne is a great fit for Markit,” said Lance Uggla, chairman and chief executive officer of Markit. “I’m delighted to announce our acquisition of a highly regarded company with a dynamic, entrepreneurial culture similar to Markit. Their services will strengthen our offerings and will allow us to better serve our customers. The transaction is consistent with our longterm strategy to accelerate organic growth through acquisitions, and will enhance our position as a leading provider of financial information services.”
The transaction is subject to customary closing conditions and regulatory approvals and is expected to be completed by the end of the year.
About Symphony Technology Group
Symphony Technology Group (STG) is a strategic private equity firm with the mission of investing in and building great technology and services companies. In addition to capital, STG provides transformation expertise to enable its companies to deliver maximum value to their clients, to drive growth through innovation, to retain and attract the best talent and to achieve best in class business performance. STG’s current portfolio consists of 19 global companies. For more information, please visit www.symphonytg.com.
About CoreOne Technologies
CoreOne Technologies develops technology enabled service businesses, delivering powerful solutions to firms operating in capital markets. CoreOne targets growth opportunities as firms implement their post credit crisis operating models. Executing its strategy through a mix of technologies acquired from leading financial institutions, coupled with its internally developed frameworks, CoreOne delivers proven capabilities in a hosted fashion, through its cutting-edge divisions PrimeOne, VistaOne, DeltaOne and RegOne Solutions. Headquartered in New York, CoreOne serves over 500 financial institutions throughout its worldwide locations
Markit is a leading global provider of financial information services. We provide products that enhance transparency, reduce risk and improve operational efficiency. Our customers include banks, hedge funds, asset managers, central banks, regulators, auditors, fund administrators and insurance companies. Founded in 2003, we employ over 4,000 people in 11 countries. Markit shares are listed on Nasdaq under the symbol MRKT. For more information, please see www.markit.com.