Stellex Capital acquires Fincentric from S&P Global
Stellex Capital Management, a US private equity firm managing over $2.8 billion in assets, has purchased Fincentric (formerly known as Markit On Demand) from financial information and analytics data provider S&P Global for an undisclosed sum.
Communify Fincentric offers a range of SaaS products
Fincentric, specialising in digital experiences and financial data distribution solutions, joined S&P Global after its merger with IHS Markit in 2022. Notably, S&P Global recently participated in the €34 million Series B funding round for the Swedish climate tech start-up Doconomy.
As part of the acquisition, which, according to the seller, is “expected to occur during the balance of 2024 and into the first half of 2025”, Fincentric will be combined with California-based Just Build It (JBI) company Communify.
With its 30-year legacy, including serving over “half of the top online brokerages in the US”, Fincentric will be integrated with Communify’s automation and client management services to form Communify Fincentric.
The new entity’s chairman and CEO, John Wise, says Fincentric’s “numbers speak for themselves – their product gets 165 million logins per month, accessing over 563 million page views per day whilst leveraging 4,000 unique data feeds”.
Communify Fincentric provides a SaaS product suite that includes its Advisor Apps, Client Apps, and Markets Apps solutions, which all reportedly leverage advanced AI and personalised design capabilities.
