Finsemble and Glue42 today announced a merger to become interop.io, with the ambition of becoming the interoperability market leader for the capital markets.
interop.io will unite the technologies of both companies to offer a complete suite of interop products: centred around io.Connect, a platform enabling clients to build and deploy intuitive front ends that combine different applications and functionality into a single smart desktop.
Leslie Spiro, previously CEO of Glue42, will serve as interop.io’s CEO. Dan Schleifer, previously CEO of Finsemble, will serve as president.
“Capital markets require advanced, automated workflows from application to application, and from user to user. Only interop.io has the technology stack to deliver this,” said Spiro. “We provide the most innovative desktop and web interop technology that can follow users as they move from desktop to browser to tablet. interop.io also provides the deployability, control and behavioral insights demanded by enterprises today.”
Interoperability, or data and UI integration of applications, has become one of the biggest trends in capital markets, and is now recognised as one of the most transformative technologies to come to the industry. Coupled with the universal FDC3 API standard for application interoperability, it is currently used in production by numerous buy-sides, sell-sides, and technology vendors across the industry.
“We believe the industry needs one firm that is the standard bearer for interoperability and advanced workflow automation,” said Schleifer.
“We merged as interop.io to accelerate our shared company vision of delivering a best-in-class solution with demonstrable ROI.”
Rhyddian Olds, head of UI and services for Citi’s institutional business and a Finsemble client and strategic investor in the combined firm, stated: “We look forward to the potential benefits to Citi’s interoperability initiatives, workflow automation and customisation with the interop.io product offering as a result of the merger.”
The firms have a shared mission to create straight-through workflows that integrate and streamline the work of capital markets professionals, freeing them to focus on higher value tasks. Both firms have also just had record-breaking years in terms of product development, client success and revenue growth.
“Instead of working separately towards the same goal, our teams are now working together to deliver at twice the speed,” added Spiro. “We intend to emerge as the interoperability powerhouse.”
The merger will also bring the Tick42 Professional Services division into the new company, where it will be known as interop.io PS, led by Susan Walters.
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