Markit, a global financial information services company that provides independent data, valuations and trade processing across all asset classes, has agreed to acquire Wall Street On Demand, a provider of services in the design, development and hosting of financial services websites, reports and tools.
The acquisition is expected to enhance Markit’s ability to deliver products and services to its clients and accelerate the distribution of Wall Street On Demand’s tools and web applications to the financial services industry. Existing clients of Wall Street On Demand will benefit from Markit’s deep content set.
Upon completion of the deal, Wall Street On Demand will continue to be based in Boulder, Colorado and its employees will become part of Markit.
Lance Uggla, CEO of Markit, said: “Markit’s acquisition of Wall Street On Demand is strategically important and exciting for our two companies. The transaction will enable us to play a leading role in the ongoing transformation of the financial services industry by delivering innovative products and services to our customers.”
Jim Tanner, CEO of Wall Street On Demand, said: “Wall Street On Demand is thrilled to be joining the Markit team. We are very excited by the opportunity to combine our custom presentation capabilities with Markit’s content and global presence.”
The transaction, which is subject to customary closing conditions and approvals, is expected to close in the coming weeks.