Acuity Knowledge Partners, which offers research, analytics and business intelligence to financial services industry, has purchased Cians Analytics for an undisclosed sum.
Cians provides affordable research and analytical solutions to financial organisations.
The company’s solutions help investment banks, private equity funds and corporations to complete their tasks within short durations and minimise their operating costs.
Its workforce includes financial researchers, developers and data scientists.
According to Cians, tough economic conditions, exodus of finance talent to the technology sector and disruptions in the financial services industry have helped its services to gain more attention.
The company’s solutions involve LeverData, a proprietary data ingestion, validation and management platform, and others. The platform is designed to allow its users to address the data reliability issues that usually create nuisance for financial services companies.
With the latest deal, Acuity aims to provide improved services in the knowledge process outsourcing (KPO) sector and help global financial firms to consolidate their operations.
The deal marks the first acquisition made by Acuity after its buyout by mid-market private equity investment firm Equistone in 2019.
Post acquisition, Cians’ employees will be added to Acuity, increasing its global workforce to more than 5500 people.
Acuity Knowledge Partners CEO Robert King said: “Cians Analytics has proven, throughout the years, that they have a dedication to quality work and best-in-class service to all of their clients.
“Given our shared cultures and service offerings, the opportunity to combine our teams and provide high-quality services to a larger client base was a compelling one.
“Post-transaction Acuity will support over 500 banking and financial services firms worldwide. This deal also supports the significant growth we have seen, and continue to target, in key markets such as the US.”