Business Services Industry
Asset Management News: DSTi buys Askari
EPN: European Pensions & Investment News, March, 2003
State Street has sold its risk management software unit Askari to UK firm DST International (DSTi). No price has been put on the value of the deal because, according to a DSTi spokesperson, the sale of Askari emerged from an "internal discussion" between DSTi and State Street for which "no external advisors were consulted."
The two companies already have a close working relationship, operating three 50:50 joint ventures: Boston Financial Data Services (US), International Financial Data Services (ex-US) and European Financial Data Services (UK).
Askari, which sells and operates its risk management software in North America, Europe, China and Singapore, will relocate some of its 50 staff in Boston, London and Singapore to local DSTi offices, while those in New...
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