The media company Bloomberg announced on Tuesday August 13 that it had acquired RegTek.Solutions, a provider of regulatory reporting software solutions.
The deal will see RegTek.Solutions’ technology incorporated into Bloomberg’s Regulatory Reporting Hub as well as its enterprise data management and trading systems. No details about how much Bloomberg paid for the company was revealed.
RegTek.Solutions was founded in 2017. In the same year it raised $5m in a Series A round. Deutsche Borse, the exchange company, and Illuminate Financial, a UK-based venture capital firm, took part in that funding round.
Commenting on the acquisition, Alejandro Perez, global head of post-trade solutions at Bloomberg, said, “The combination of RegTek.Solutions with Bloomberg RHUB allows us to substantially expand our regulatory reporting coverage and offer quality and control tools to help our clients effectively meet the wide range of global reporting requirements.
“As regulations become more complex, buy- and sell-side firms are looking for providers who can help them address requirements across various jurisdictions, with the necessary workflows and data structure that allows firms to maximize overall accuracy and completeness in their regulatory processes.”
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