NSE Data & Analytics Ltd , a full subsidiary of the National Stock Exchange of India (NSE), has today acquired Cogencis Information Services Ltd., a provider of real-time market data terminals to institutional customers.
NSE Data has acquired the business from Samara Capital I Partners Fund Ltd, the minority shareholders including the company’s founder, co-founder, and an employee welfare trust.
VCCircle first reported the deal last year.
Cogencis’ flagship product is Cogencis Workstation, a real-time market data terminal including real-time financial news.
The Cogencis WorkStation provides data on all asset classes including foreign exchange, fixed income, equities, commodities, as well as macro-economic data, either generated on its own or aggregated through various sources.
As a part of the transaction, the news department of Cogencis has been sold to Informist Media Private Ltd, the company said.
Cogencis news will now be known and available as Informist news on the Cogencis WorkStation.
Cogencis has also entered into a five-year exclusive commercial arrangement with Informist Media to source the news for the Cogencis WorkStation.
Further, the credit business of Cogencis has been sold to Informist Data and Analytics. Cogencis has an arrangement with Informist Data to continue the provision of a sub-set of the Credit product covering all listed companies to the users of the Cogencis WorkStation.
Commenting on the acquisition, Vikram Limaye, managing director and chief executive officer at NSE said that the acquisition of Cogenesis was complimentary for NSE Data.
“The business of Cogencis adds to the existing offerings of NSE Data by helping it acquire an additional channel to distribute and disseminate market data and analytical products and solutions,” he said.
“It will also deepen our presence in the market and strengthen our position as a financial market infrastructure institution,” Limaye said.