Information technology giant Computer Sciences Corporation [CSC], announced Tuesday it will acquire Fixnetix, a provider of front-office managed trading solutions in capital markets.
CSC is the leading provider of IT services to aerospace and defense companies, to include cloud computing, cyber and big-data management services.
London-based Fixnetix streamlines front-office management and trading systems operations, market information systems and related technology infrastructure. Capital market firms are seeking such fee-for-service management capabilities in the face of “more stringent customer, regulatory and competitive requirements, CSC said in a statement.
“With sophisticated systems that are often cost- prohibitive to run in-house, firms are looking to outsource the management and operation of trading systems’ infrastructure to become more agile, responsive to customers and cost efficient,” CSC said.
The proposed acquisition will enable CSC to offer capital market clients an expanded range of as-a-service front office capabilities and will strengthen its ability to address growing client demand for greater efficiency and innovation in trading, market data, hosting, infrastructure, connectivity and risk management.
Steve Hilton, executive vice president and general manage of global infrastructure services for CSC, said “Fixnetix will be a key component to the implementation of our infrastructure strategy and will advance CSC as a leader in providing managed services to capital markets firms throughout the world.”
The closing of the acquisition is subject to customary conditions. Financial terms of the agreement were not disclosed. Closing of the transaction is expected during the third quarter of 2015. The largest shareholder in Fixnetix is Delta Partners, a venture capital firm that invested in the company at start-up.