Linedata has acquired Gravitas Technology Services. Both companies target the financial services market, with an emphasis on wealth managers and asset managers.
Linedata has software know-how and roughly 1,000 employees across 16 offices worldwide. The company's revenues were roughly EUR 172.3 million (US $184.3 million) in 2015.
Gravitas also has a software platform blended with IT consulting and services. Gravitas has more than 80 employees in the United States (mainly New York) and 180 in India (Mumbai). In 2016, Gravitas revenues were roughly $26.5 million.
Linedata's strategy involves acquiring "targeted, strategic acquisitions to span the entire value chain of institutional and alternative managers, and fund administrators," the company said.
