BondDesk Acquires TechHackers from Unisys
BondDesk Group, which operates the BondDesk ECN, has completed the acquisition of TechHackers, a New York-based provider of mathematical models for the fixed-income and derivative markets that was owned by Unisys. TechHackers deploys its QuantTools and analyst products to financial services firms.
TechHackers will operate within the BondDesk*Analytics division. Terms of the transaction were not disclosed. According to Jan Mayle, managing director of BondDesk*Analytics, the acquisition will extend BondDesk's analytics to additional security types and bring sophisticated tools to clients' desktops. Mayle was formerly the founder of TIPS, a fixed-income analytics provider that BondDesk acquired in March of 2002.
TechHackers will continue supporting its existing clients as well as licensing its products to new clients from its current Manhattan headquarters.