Today, backed by its majority owner STG, Alveo, a leading provider of cloud-based market data management software, announces the completion of its merger with Gresham Technologies (“Gresham”). The combination creates a market leading provider for data automation and optimisation of mission-critical data, post-trade processes, and external reporting.
Both companies specialise in data management software and combined will create significant scale. Clients will benefit from a comprehensive range of data automation and process integration solutions that simplify operating models and reduce total cost of ownership (TCO).
Gresham is a market leader in transaction control and reconciliations, data aggregation, connectivity solutions and regulatory reporting. Alveo is a market leader in enterprise data management for market, reference and ESG data. The combination creates a market leader in data automation solutions for mission-critical processes that require high quality and trusted data to be easily integrated into business workflows.
The new business will be known as Gresham and will be headquartered in London with operations around the world, including a significant presence in North America. Ian Manocha, formerly CEO of Gresham Technologies, will be the CEO of the combined business and Mark Hepsworth, formerly CEO of Alveo, will be Chair of the board.
Ian Manocha, CEO, said: “The combination of the two firms accelerates our journey to bring digital integrity, agility, operational efficiency and data confidence to financial markets globally. It creates a comprehensive set of solutions for data automation, operational efficiency, data management, analytics and risk mitigation for financial and corporate clients globally.”
Commenting on the merger, Mark Hepsworth, Chairman said “Improving data management efficiency is a major requirement for clients who need to process increasing volumes of data. 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. I am delighted to be working with Ian and our new team and to enable clients to benefit from this exciting new combination.”
