French investment management software firm Linedata has agreed to take over Gravitas Technology Services, a provider of middle office and technology services to the asset management industry.

Gravitas is based mainly in New York and Mumbai, and employs over 80 staff in the US and 180 in India. The company posted revenues of $26.5m in 2016.

Linedata said that combining its software platforms with Gravitas’ outsourced services and technology platform that integrates proprietary and third-party tools will allow it to offer tailored services to its customers.

Linedata founder and CEO Anvaraly Jiva said: “We are delighted to welcome Gravitas’ clients and employees into Linedata. Gravitas’ award-winning outsourcing services, combined with our technology platform, will enable us to accelerate our ambitious and innovative Linedata 2018 growth strategy.”

Meanwhile, Gravitas will make use of Linedata’s global presence to distribute its services across the globe.

Gravitas founder and CEO Jayesh Punater said: “Linedata’s technologies and global reach will bring us genuine and unique abilities to extend and improve our range of services.”

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By GlobalData