Thomson Reuters has agreed to acquire two technology companies that specialize in know-your-customer and
The news and information company will acquire Clarient, a global KYC and client reference data platform, and Avox, a supplier of legal entity data on financial entities globally, both from the Depository Trust & Clearing Corp. These businesses will be integrated into Thomson Reuters' portfolio of risk management, compliance and reference data offerings.
Financial terms were not disclosed.
The deals come as international regulators' increasing demands for transparency in financial transactions have
The acquisitions will bring “significant continued commitment of a wide range of customers including the founder banks of Clarient,” Steve Pulley, managing director of risk managed services at Thomson Reuters, said in a press release.
That his company was picked to take over these businesses “reflects the progress we have made in our legal entity and KYC managed service franchise over the past three years including the successful launch of the industry-first regional KYC service last year in Africa," Pulley said.
Clarient was founded by the DTCC with the participation of Barclays, Bank of New York Mellon, Credit Suisse, Goldman Sachs, JPMorgan Chase and State Street. Its Clarient Entity Hub service allows investment managers, hedge funds and corporations to upload, securely store, maintain and permission use of legal entity level information, documentation and ownership information. Avox matches, enriches and maintains legal entity reference data for its clients.