Markit acquires derivatives valuation and analysis firm Prism Valuation

Financial info services specialist Markit Ltd (NASDAQ: MRKT) has announced that it has agreed to acquire Prism Valuation, a Toronto-based provider of independent valuation and risk analysis of derivatives and structured products.

Prism Valuation’s customers include regional banks, custodians, asset managers and issuers of structured notes.

The acquisition is expected to close in the coming weeks. Financial terms were not disclosed.

The acquisition of Prism will complement Markit’s Portfolio Valuations service and enable Markit to offer customers enhanced coverage of complex OTC derivatives and structured OTC products. It will also expand Markit’s customer base among regional banks and structured product issuers.

Adam Kansler, co-head of Information at Markit said:

We’re very excited to welcome Prism Valuation’s extensive expertise with complex OTC products, giving us exceptional valuation capabilities across the full spectrum of asset classes. Prism Valuation complements our industry-leading, independent valuation services, helping customers comply with regulatory, auditor and investor demands for independent valuations, transparency and risk analysis.

Keldon Drudge, founder and CEO of Prism Valuation said:

Markit’s scale and global reach will allow us to better support our customers and will also accelerate innovation and further development of our platform. Our shared focus on providing independent, high quality valuations will help firms comply with evolving regulatory requirements and satisfy investors’ risk management demands.

Prism Valuation’s customers include regional banks, custodians, asset managers and issuers of structured notes.

The transaction will not have a material impact on Markit’s financial results in 2016. Following completion of the acquisition, Prism Valuation will be integrated with Markit Portfolio Valuations in the Valuation and Trading Services segment of Markit’s Information division.

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Markit acquires derivatives valuation and analysis firm Prism Valuation


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