Bloomberg, a global business and financial information and news leader, acquired RegTek.Solutions, a NYC and London, UK-based provider of global regulatory reporting software solutions.
The amount of the deal was not disclosed.
The acquisition will expand the range of regulatory reporting services offered by Bloomberg, and deliver a fully integrated and comprehensive service that supports compliance with current and upcoming regulatory reporting requirements across multiple jurisdictions around the world.
RegTek.Solutions, which provides modular software solutions built around actionable regulatory intelligence, will be integrated with Bloomberg’s Regulatory Reporting Hub (RHUB), as well as Bloomberg’s enterprise data management and trading systems. Clients will have access to a fully electronic reporting workflow including transaction reporting eligibility, data validation, enrichment and reconciliation, to maximize accuracy and completeness in their reporting obligations.
Created in 2017 via a software spin-out from Risk Focus Inc, a consulting firm for capital markets that delivers custom solutions and DevOps advisory services, RegTek.Solutions received Series A funding from the Deutsche Börse and Illuminate Financial Management in August 2017 to scale operations and build a client base that now includes G16 Banks.