The combined expertise will provide an ability to offer a solution that will extract from existing financial data sources, operational systems and other trading platforms.
The deal will also strengthen its capability to broaden the risk solution offerings beyond those found in its current suite of transaction and portfolio management solutions, claims OpenLink.
With regard to the deal, OpenLink CEO Kevin Hesselbirg said the growth seen in the commodity markets over the past 10 years has been significant with record returns and volatility.
"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," Hesselbirg added.
CubeLogic founder David Priestley agreed with 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."
After obtaining concerned regulatory approval and satisfying the customery closing conditions, the deal is expected to be completed during OpenLink’s fiscal third quarter.
CubeLogic offers advanced risk management solutions to the finance and commodities sectors with unparalleled flexibility and performance.
Headquartered on Long Island, New York, OpenLink manages 540 clients across the globe caters software solutions for transaction lifecycle management.
