Charles River, which provides functions to managers including Milford Asset Management, is being acquired by State Street Corporation.
The acquisition will combine Charles River’s front and middle office Software as a Service capabilities with State Street’s extensive front, middle and back office capabilities to deliver a comprehensive end-to-end interoperable Buy-Side platform.
“The synergy between our firms provides the market with a major new differentiating offering that will change the way the buy side operates,” said Peter Lambertus, CEO of Charles River. “State Street’s commitment to investment in R&D is also a big plus. In today’s SaaS technology environment, Charles River’s hosted platform provides for up-to-date software, data provisioning, management, open integration and optimal operations which relieves clients of the cost and burden of on-premises operations. These SaaS capabilities will play a major role in the overall end-to-end offering.”
The platform integration capabilities will allow clients to use different supplier components and services as desired.
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