Markit, a financial information services company, has acquired QuIC Financial Technologies, a provider of enterprise solutions for risk management, pricing and financial analytics.
The acquisition is expected to enable Markit to meet the demand for risk analytics and enterprise risk management services by combining its strengths in data and valuations with QuIC’s analytics expertise.
Post acquisition, QuIC will become part of Markit’s valuations and analytics services unit, and will continue to provide all of its existing services to clients throughout the financial industry.
Markit recently combined its valuations and analytics services – comprised of Markit’s Totem, Portfolio Valuations, Valuations Manager, Evaluated Bonds and Structured Finance businesses – under the direction of executive vice president Sal Naro.
Markit CEO Lance Uggla said the field of risk analytics continues to grow at an accelerated pace and presents some very interesting opportunities for Markit. By acquiring one of the leading providers of risk analytics, Markit will gain significant enterprise risk management capabilities which will allow it to provide its customers with the comprehensive solutions they require to identify and manage risk.