Headstrong buys Elind Computers

Headstrong buys Elind Computers

By siliconindia staff writer   |   Thursday, 04 November 2004, 08:00 Hrs
Printer Print Email Email
BANGALORE: US-based global consultancy firm, Headstrong, has acquired Bangalore-based Elind Computers, a software provider focused on the global capital markets industry, reports Economic Times, an Indian daily.

The daily had first reported this deal on October 19. Headstrong has acquired the assets of Elind through its Indian division, Techspan India.

The acquisition equips Headstrong with an array of customisable internal matching services or components for investment banks and prime brokerages.

Commenting on the acquisition, Headstrong managing director Sandeep Sahai said, “Innovation is core to Headstrong’s success, and the acquisition of Elind will enable us to help investment banks and brokerages change the way they do business. ”

Detailing the rationale for the acquisition, Mr Gregory Johnston, president, Elind Computers said, “At Elind, and now at Headstrong, we are capitalising on this trend by deploying our proven electronic crossing engine STRIDE to the buy side and sell side. Giving broker/dealers the ability to internally cross orders in real-time is our vision of the internal marketplace, a complete solution expected to reduce market impact costs and improve trading efficiency.”

In November 2003, Techspan had merged into US based Headstrong to create a $100 million company. In India, Techspan brand is expected to continue till the company completes its ongoing recruitment process.

Write your comment now
Submit Reset