Software specialist Cinnober Financial Technology is buying Ancoa Software, the UK-based market surveillance specialist company.
Ancoa provides contextual surveillance and insightful analytics for exchanges, regulators, buy & sell-side firms. Its surveillance platform aims to helps firms take control of their regulatory, reputational and operational risks across markets, functions and asset classes. Ancoa’s customers of today includes Convergex, MarketAxess, Linear Investments, Energie Steiermark and Cenkos Securities, it says.
“Cinnober has been in a partnership with Ancoa for the last three years and we’re impressed by their team and their product. By bringing Ancoa into Cinnober we are now adding new competences as well as deepening our leading product portfolio targeting banks and brokers as well as exchanges and clearinghouses”, says Veronica Augustsson, CEO of Cinnober. “We’re also adding approximately ten additional customers to our client base, within a highly interesting segment of our business niche driven by regulatory demands.”
Ancoa is undergoing a steady growth phase and the plan is that bringing it into the Cinnober group will accelerate this momentum. However, the acquisition is not expected to have a major impact on Cinnober's income statement and balance sheet in the short term. A three months’ integration phase will now be undertaken to maximize synergies and leverage cost efficiencies.
Cinnober has a portfolio of offerings includes price discovery and matching, real-time risk management, clearing and settlement, index calculation, data distribution and surveillance. Customers include major exchanges with extreme demands on reliability and performance, such as the Australian Securities Exchange, B3 (formerly BM&FBOVESPA), Dubai Gold & Commodities Exchange, Euronext, Japan Exchange Group, Johannesburg Stock Exchange, the London Metal Exchange, LME Clear, NYSE and the Stock Exchange in Thailand.