AcadiaSoft has acquired Irish consulting and software company Quaternion to boost its risk management capabilities.
AcadiaSoft, which provides risk and collateral management services, has acquired Irish company Quaternion. Terms of the deal were not disclosed.
Quaternion, which was founded in 2010, specialises in software and consulting services in the area of risk. AcadiaSoft said that the acquisition would add “significant depth” to its risk product offerings.
A new Quaternion division has been created in the company, which will focus on providing customers in the derivatives market with a range of analytics and expert services. This division will be led by Quaternion’s co-founders, CEO Donal Gallagher and CTO Roland Lichters.
Quaternion is headquartered in Dublin, with offices in London, New York and Dusseldorf. The companies said that Quaternion offices will remain in place after the deal, and its presence in Ireland and Germany will be leveraged to serve AcadiaSoft customers in these regions.
“AcadiaSoft and Quaternion share a strong commitment to developing integrated risk management solutions that will help the industry navigate the many regulatory and cost challenges it faces,” said Gallagher.
“Becoming part of AcadiaSoft is a natural step for us and will allow us to provide clients with enhanced services, high-quality choices and the best value in the industry.”
AcadiaSoft previously worked with Quaternion on multiple risk products. In 2018, Quaternion announced plans to expand its team after forming a strategic partnership with the US company.
“Quaternion has been a trusted partner in our risk mitigation and management offerings,” added AcadiaSoft CEO Chris Walsh.
“Bringing these capabilities in-house will allow us to develop best-in-class products to optimise and centralise risk management. This exciting new chapter with Quaternion is a critical piece of the puzzle as we work towards creating an integrated, real-time risk management solution.”
AcadiaSoft has a suite of analytics solutions and services to help companies mitigate financial risk and optimise resources. The business was founded in 2009 and its services are now used by more than 1,600 companies.