Markit will be acquiring Wall Street On Demand, a provider of hosted information services to the financial services industry, the firm announced today.
The purchase is expected to increase Markit’s ability to provide its clients with products and services while expanding Wall Street On Demand’s exposure within the industry.
Wall Street On Demand’s current clients are also expected to benefit from the deal.
“Markit’s acquisition of Wall Street On Demand is strategically important and exciting for our two companies,” said Lance Uggla, Markit’s CEO. “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.”
After the purchase is completed, which is expected to happen in the coming weeks, Wall Street on Demand will continue to be based in Boulder, Colorado, and its employees will become part of Markit.
Markit is a global financial information services company.