OpenLink to Acquire CubeLogic
11.6.2012 11:00:02 CEST | Business Wire | Press release
Combined solutions complement OpenLink’s capabilities to aggregate, analyze, and report enterprise-level credit risk and exposures
OpenLink Financial LLC (OpenLink), a leading provider of cross-asset trading, risk management and operations software solutions, is pleased to announce the planned acquisition of CubeLogic Limited (CubeLogic). With CubeLogic modules, OpenLink will be able to offer a solution that will extract from existing financial data sources, operational systems and other trading platforms, including OpenLink’s software solutions, to allow risk officers to analyze risk across the entire corporate structure.
This acquisition marks a strategic initiative by OpenLink to enhance its credit risk capabilities and to broaden the risk solution offerings beyond those found in its current suite of transaction and portfolio management solutions. CubeLogic offers a flexible, self-service environment for event-based, ad hoc, and intraday reporting and a detailed reference data capture system.
Kevin Hesselbirg, OpenLink CEO, said, “The growth seen in the commodity markets over the past 10 years has been significant with record returns and volatility. As organizations have positions that become profitable, their counterparty exposure increases. We are excited that CubeLogic’s domain experts and software modules allow us to extend our already formidable credit risk abilities across our customers’ multiple legacy platforms, creating one aggregated view.”
David Priestley, Founder of CubeLogic, echoed Mr. Hesselbirg’s comment, “What we’ve built is the next generation in credit risk management. With OpenLink, we have access to the largest installed client base in the industry and a world class global support network.”
The transaction is expected to be completed during OpenLink’s fiscal third quarter, and is subject to customary closing conditions.
To learn more about this exciting technology, please visit www.CubeLogic.com .
About CubeLogic
Founded in 2009 CubeLogic provides advanced risk management solutions to the finance and commodities sectors. Their mission is to deliver business intelligence based risk solutions providing real-time risk management with unrivalled flexibility and performance. The combination of CubeLogic’s groundbreaking technology, architecture, and innovative use of Business Intelligence tools has earned it Energy Risk magazine’s “Highly Commended Technology House of the Year 2012”. With 'Blue Chip' clients including Mercuria, Centrica, EoN, Gazprom and EDF Trading, CubeLogic has rapidly established its technological lead over the competition.
About OpenLink
Founded in 1992, OpenLink provides decision support software solutions for transaction lifecycle management. This software encompasses financial and physical cross-asset trading, risk management, related operations processing and portfolio management for commodity, energy and financial services markets and industries globally.
OpenLink's client base of more than 540 clients worldwide includes 12 of the top 25 largest commodity and energy companies by market capitalization, eight of the largest financial institutions and 11 of the largest central banks, as well as major hedge funds, commodities companies and public utilities.
Headquartered on Long Island, New York, OpenLink also has offices in New York City, Houston, Dallas, Tulsa, London, Berlin, Vienna, São Paulo, Sydney, Singapore, Moscow, Toronto and Dubai. OpenLink has more than 1,300 employees worldwide.
To learn more about OpenLink's solutions, visit www.OpenLink.com .
Contact:
Cognito
Caitlin Mitchell, +1-646-395-6300
olf@cognitomedia.com
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