Outsourcing Trend Drives Markit's Cadis Acquisition

Abstract

Markit, the global financial information services company, has agreed to acquire enterprise data management systems provider Cadis, in a deal Markit believes will enable it to capitalize on a trend for financial institutions to outsource data management functions. Cadis hopes the deal will increase its global market. Kevin Gould, president and co-founder of Markit, says firms are under pressure to aggregate and standardize increasing amounts of data and are looking to outsource this work.