Tech Provider Pico to Acquire Data Analytics Firm Corvil

Financial markets technology services provider Pico announced this Tuesday that it has signed a definitive agreement to acquire Corvil, for an undisclosed amount, with the transaction set to close in 30 days.

Corvil provides real-time analytics and machine intelligence products for financial markets infrastructure performance and operations. Once the acquisition has been completed, Corvil will operate under the Pico brand; however, the Corvil name will still be used for its suite of products and services.

Corvil’s CEO to become CTO post-acquisition

Corvil’s Chief Executive Officer Donal Byrne will take up the position of Chief Technology Officer (CTO) and will report to Pico’s CEO. He will have global responsibility for product, marketing, and data science.

Following the deal being closed, clients of the data Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Read this Term company will still be able to access all of the company’s products, in addition to the newly-introduced Corvil-as-a-Service solutions, which will be available within Pico’s global network.

Commenting on the transaction, Jarrod Yuster, Founder and CEO of Pico said: “Corvil’s reputation is second to none for innovation, quality, and data analytics in the financial markets, and we have come to rely on their data to support mission-critical systems."

“Our motivation for acquiring Corvil is based on a commitment to our clients to deliver the industry’s best-in-class analytics and real-time insights. With Corvil, we can deliver full transparency into our clients’ trading and IT operations while addressing the challenges that come with rapid expansion into new global markets. I am thrilled to welcome the Corvil team to Pico.”

Once the analytics firm has been acquired, the new combined company will service a client base of more than 400 banks, exchanges, asset managers, financial technology vendors, and trading firms. Altogether, the firm will have a workforce of more than 375 staff.

“We see a new era of financial technology for the capital markets emerging. This will be defined by an on-demand and machine intelligent technology paradigm delivered as a service for infrastructure, platform, Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term, data and analytics,” added Byrne, CEO of Corvil.

“In the fast-paced global financial markets, you need to make your move on the markets before the markets move on you. With Pico, we are making a transformational move on the $50 billion financial technology services market.”