Pico, a technology firm that specializes in capital markets infrastructure, agreed earlier this month to acquire Corvil, a financial markets analytics firm.
"This is very much a proactive and strategic move to advance and modernize Pico’s product and service capabilities to outpace the on-demand and platform-based architectures that the industry and Pico’s clients are beginning to adopt," a company spokesperson told Benzinga.
Pico offers managed infrastructure, market data and analytics solutions to broker-dealers, exchanges, asset managers, trading firms and technology partners.
The acquisition of Corvil will complement existing efforts to leverage low-latency tech, data science and forward-thinking mindsets to expand into new markets, according to Pico.
The Corvil name will remain for some products and services.
“Corvil has made a name for itself as the leader in performance monitoring and analytics for electronic financial markets. The Corvil brand is incredibly strong, second-to-none; the technology benchmark for the biggest participants on the global stage, including exchanges, banks and market makers," the spokesperon said.
The acquisition is expected to provide “tremendous value to clients in the delivery of transparent, accountable and intelligent trading environments,” according to Pico.
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