Linedata adds a touch of Gravitas
Investment management software firm Linedata has acquired Gravitas Technology Services, a provider of middle office and technology services to the asset management industry.
Gravitas is based mainly in New York and Mumbai, and the deal is part of Linedata’s ambitions in North America. It follows last year’s purchase of fellow investment management software provider, Derivation.
Linedata founder and CEO Anvaraly Jiva says Gravitas’ outsourcing services, combined with its technology platform, will enable it to “accelerate” its Linedata 2018 growth strategy.
Gravitas founder and CEO Jayesh Punater adds: “Linedata’s technologies and global reach will bring us genuine and unique abilities to extend and improve our range of services.” And there’s me thinking Linedata is the one buying Gravitas.
Gravitas was founded in 1996 and has over 80 staff in the US and 180 in India. In 2016 it reported revenues of $26.5 million.