London: Markit, the financial information Services Company had acquired thinkFolio which provides portfolio management software, reported Automated Trader, an industry website based in London.
Founded in 2001, thinkFolio offers software for portfolio modeling, order and cash management capabilities and compliance; whereas Markit caters solutions to complicated industry issues and helps in enhancing operational efficiency.
thinkFolio has already incorporated Markit's enterprise data management solution and certain data services .After the acquisition, reportedly Markit will expand its franchise in enterprise software and improve front office solutions.
"thinkFolio and its team are best in class. The software has superb functionality, is straightforward to implement, and fast and cost efficient to use. This acquisition expands Markit's technology offering for the front office and enables customers to source order management and portfolio management software as well as enterprise data management, transaction cost analysis and risk analytics, all from a single provider," says Daniel Simpson, Managing Director and head of enterprise software at Markit.
On the other hand with this acquisition thinkFolio coupled with Markit resources like global salesforce can spread their services beyond UK. According to recent reports, thinkFolio will operate as a business unit along with Markit’s other enterprise software platforms."We are impressed with Markit's entrepreneurial culture and its rapidly growing group of software businesses. Our experience of working with Markit on product integration has been extremely positive and gives us great confidence that we will thrive as part of Markit,” says Andrew Walsh, CEO and founder of thinkFolio.
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