Toronto-based Street Context has been acquired by fellow market intelligence platform BlueMatrix for an undisclosed amount.
Both firms provide offerings meant to centralize and manage communications and intelligence around investments and the capital markets. The combined company will integrate authoring, financial data, and consumption analytics into a unified platform, BlueMatrix said in a statement, adding that this will help financial institutions to deliver more targeted communications to clients.
“We believe the combined company has the potential to rethink and reinvent how information moves through the industry.”
Adam Solomon
Thoma Bravo
BetaKit has reached out to BlueMatrix and Street Context for more information on the acquisition but did not hear back by press time.
Street Context was founded in 2012 to help sell side brokerages–firms that facilitate offering securities to buyers–distribute and manage content and analysis, such as formal research and market commentary. Street Context also provides an email intelligence platform that helps brokers manage contact lists and track engagement analytics.
“Between the two firms, we already work with almost every sell side firm in the world,” Street Context CEO Blair Livingston claimed in a LinkedIn post announcing the acquisition. “Together, we’ll be able to cover information distribution across the entire sell side, across sales, trading, research, and investment banking.”
Founded in 1999, Durham, NC-based BlueMatrix makes an investment research and publishing platform that aims to help investment banks and research analysts distribute financial analysis and reports. The platform helps firms evaluate engagement and comply with the US Securities and Exchange Commission, Europe’s GDPR data law, Research Information Markup Language (RIXML), and web accessibility standards.
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Last January, software rollup giant Thoma Bravo completed a strategic investment in BlueMatrix, adding it to its portfolio of more than 455 companies. In a statement, Thoma Bravo partner Adam Solomon said that BlueMatrix and Street Context will be better positioned to serve clients together.
“As a major consumer of information in the capital markets, and broader financial services industry, we understand the power of bringing the BlueMatrix and Street Context platforms together,” Solomon said. “We believe the combined company has the potential to rethink and reinvent how information moves through the industry.”
This marks yet another acquisition of a Canadian tech company by an interventional player announced since the turn of the new year. Others include Montréal-based BrainBox AI, Toronto-based e-commerce software aggregator Carbon6 Technologies, Toronto-based HR software company Humi, and Montréal-based debt collections technology provider Lexop.
Feature image courtesy Jakub Żerdzicki via Unsplash.