OpenLink to acquire CubeLogic; BI for financial services
Summary: OpenLink needed to bulk up in credit risk management for its business intelligence platform for the finance industry. That's where CubeLogic comes in
OpenLink Financial announced on Monday that it will acquire CubeLogic Limited in a bid to reinforce its analytics and intelligence platform for the financial services sector.
New York-based OpenLink specializes in cross-asset trading, risk management and operations software; three-year-old CubeLogic offers business intelligence technology geared toward finance and commodities. OpenLink's specific interest is in CubeLogic's credit risk capabilities, which it hopes customers can use across multiple legacy platforms.
The companies hope their combined platform can extract from existing financial data sources, operational systems and other trading platforms to allow risk officers to analyze risk across the entire corporation. CubeLogic also brings to the table a customer portfolio that includes Mercuria, Centrica, EoN, Gazprom and EDF Trading.
"The growth seen in the commodity markets over the past 10 years has been significant with record returns and volatility," OpenLink CEO Kevin Hesselbirg said. "As organizations have positions that become profitable, their counterparty exposure increases."
Here's the CubeLogic pitch in a video:
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