Data management software and services providers Alveo and Gresham Technologies have merged in a deal that the newly augmented company says will offer clients data automation and optimisation at “significant” scale.
The new business, which will be known as Gresham, will be based in London with former Gresham Technologies chief executive Ian Manocha continuing the role at the company and Mark Hepsworth, who headed Alveo, taking the chair’s position.
The combined companies marry Gresham Technologies’’ transaction control and reconciliations, data aggregation, connectivity solutions and regulatory reporting capabilities with Alveo’s enterprise data management for market, reference and ESG data.
The range of data automation and process solutions it can offer will reduce the total cost of ownership of clients’ data, Gresham said.
“The combination of the two firms accelerates our journey to bring digital integrity, agility, operational efficiency and data confidence to financial markets globally,” said Manocha. “It creates a comprehensive set of solutions for data automation, operational efficiency, data management, analytics and risk mitigation for financial and corporate clients globally.”
The terms of the deal were not disclosed but Alveo’s majority owner, technology-focused private equity firm STG, backed the merger.
London-based Alveo was founded in 1991 as Asset Control, one of the first third-party enterprise data management service providers. It changed its name in 2020 after becoming a cloud-native, managed-service provider.
Gresham Technologies began life as Gresham Computing offering real-time transaction control and enterprise data integrity solutions.
Hepsworth said the newly enlarged company will be able to meet the increasing data demands of clients.
“We can now offer clients greater scale and a wider range of solutions that will simplify their operations and enable them to manage data more effectively,” he said.
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