LONDON-based fintech company Clarus Financial Technology, which has a research and development (R&D) centre in Belfast, has been bought by the Dublin-headquartered Ion Group.
Founded in 2012, Clarus operates in international capital markets and provides data, analytics and research to investment banks, hedge funds, regulators and brokers around the world.
The company has bases in London, Geneva and Singapore, and in 2015 announced its move to Belfast with a new R&D base, creating 15 jobs.
Located on Howard Street, the Belfast city centre hub has primarily been a base for a team of software engineers and business analysts.
Founded in 1999 the Ion Group’s office footprint stretches across the globe, from San Francisco to Tokyo, but it remains headquartered in Dublin
The takeover of Clarus Financial Technology has been completed by its subsidiary, Ion Markets, which operates in the same sphere as its former fintech rival, offering trading, analytics, and risk management services for capital markets.
Ion Group chief product officer, Hishaam Caramanli has described it as a “strategic expansion”, adding that it “demonstrates Ion Markets’ leading position as provider of capital markets management solutions and our ongoing focus on digitising and automating workflows”.
The deal comes two years after the Dublin-based outfit’s parent owner, Ion Investment Group (IIG), acquired a majority stake in financial information service Acuris, in a deal reportedly valued at more than £1 billion.
