OpenLink Financial has acquired CubeLogic, a provider of risk management products to the finance and commodities industries.
CubeLogic focuses on business intelligence based risk products that provide real-time risk management. The acquisition was a strategic move by OpenLink to enter the market for business intelligence based applications that help customers integrate, aggregate, analyze and report on key data, OpenLink said Tuesday.
"CubeLogic's team is already working with a number of our customers who require advanced business intelligence, providing them with quantifiable, proven benefits to their operations," Kevin Hesselbirg, chief executive of OpenLink, said in a news release. "Our global sales and support network will help CubeLogic bring their world-class solutions to the broadest possible market."
The financial terms of the deal were not disclosed. CubeLogic is now a subsidiary of OpenLink International.
OpenLink, based in Uniondale, N.Y., will show CubeLogic's business intelligence products at a conference in October. CubeLogic's set of off-the-shelf adaptors will link to OpenLink's products for the energy, capital markets and commercial and industrial sectors.
These adaptors, combined with standards for extracting information from third-party systems, will reduce time to market for a range of business intelligence-based products, including credit scoring, credit risk and collateral management and trade flow analysis, OpenLink said.
OpenLink provides cross-asset trading, risk management and operations software.