BornTec Sharpens Business Focus Through Strategic Transaction
Press Release / by: Chris Haworth / May 10,2023
BornTec, a market leader in providing data driven solutions for surveillance, risk, compliance, and regulatory reporting in global markets, has sharpened its business focus with a recently completed divestiture of its colocation and managed hosting business lines to TNS, Inc.
Derek Haworth, CEO and co-founder, heralded a new era for BornTec following the transaction.
“BornTec has been a visionary in capital markets for over 20 years. This transaction marks the continued evolution of the BornTec story as we provide premium at-trade and post-trade data intelligence and automation products and solutions across a broad array of markets and products,” said Haworth.
The restructuring is a continuation of a strategic shift that is driven by BornTec’s focus on helping clients realize the full value of their multi-asset data in real-time with tools and insights that address their most urgent and intractable risk management and compliance requirements.
“Capital markets firms face ever increasing challenges with reporting requirements, particularly with respect to operational resilience, challenges that demand an integrated, real-time view of data. Our CrossCheck™ platform meets these needs,” Haworth said.
Operational resilience requirements, a primary discussion theme at most sell-side and buy-side organizations, are easily solved through CrossCheck’s low-code automation platform.
“This divestiture will not only sharpen our focus, but provides additional flexibility for further investment and acquisitions, bolstering continued triple-digit growth rate,” said Buck Haworth, CFO and co-founder.
The transaction was completed on March 24, 2023.
For additional information, contact BornTec at email@example.com.
BornTec serves financial market participants with its flagship application CrossCheck™, providing a global real-time at-trade and post-trade view of their trade flow. When combined with publicly available market information, unparalleled data visibility and event monitoring are unlocked, with applications for client coverage, operations, compliance, data analytics and C-Suite. www.borntec.com
About Transaction Network Services (TNS)
Founded in 1990 and with headquarters across USA, Europe and Asia, TNS is a leading provider of mission-critical infrastructure, connectivity, market data and analytic services for the Financial Markets community. Delivered as a fully managed Infrastructure-as-a-Service offering, TNS provides an unrivaled, global, mission-critical footprint that significantly reduces the burdens, complexities and costs attributed to firms ‘going direct’. Through its ultra-low latency connectivity, its global market data offerings and its dedicated 24x7x365 local support, TNS remains the trusted solution provider to more than 750 counterparties globally.