American Fintech Firm Numerix Acquires FINCAD from Zafin

Numerix, a leading provider of capital market risk management technology and a part of the private equity firm Genstar Capital​, announced that it has acquired FINCAD, a leading analytics company in the pricing and risk analytics of financial derivatives and fixed income products, from Zafin, a leader in Product and Pricing SaaS solutions for global financial institutions. Together, the two firms will penetrate across the capital markets ecosystem, including sell-side, buy-side, corporate and insurance market customers.

Through the partnership, clients of Numerix will be able to make more informed trading and risk management decisions with Numerix's analytics and FINCAD's pricing SaaS platform.

Steven R. O'Hanlon, President and CEO at Numerix, said: "Bringing together Numerix and FINCAD is a significant moment for all capital markets participants. Analytics are the differentiators in terms of making the right investment decisions. This combination is a game changer for the industry, allowing Numerix clients to use the most robust front-to-risk decision making software with their choice of best of breed analytics. While both companies started at a similar point in time but took on servicing different segments of the market, it has become clear to me through the process that FINCAD shares a similar DNA to Numerix. This is a natural fit and I am very excited about the opportunities that lie ahead."

Al Karim Somji, CEO of Zafin, added: "Zafin has over the past year worked closely with the FINCAD team to ensure they are set up for growth with successful executions of revamped product and customer success strategies and Numerix now provides FINCAD an excellent avenue to realize their full potential. I want to thank the FINCAD team for their dedication and commitment and wish them all success as part of Numerix while enabling Zafin to continue its focus on empowering global financial institutions as they accelerate their efforts to modernize and transform their business with Zafin's Product and Pricing SaaS platform."

Numerix is expanding its cooperation with other data analytics technology providers. Last month, the firm entered into a partnership with Parameta Solutions​, the Data & Analytics division of TP ICAP, to work together on a more efficient OTC derivatives valuation system.