NSE Acquires Cogencis

NSE Data & Analytics has acquired Cogencis Information Services which provides real-time market data terminals to institutional customers. However, the financial details of the deal were not disclosed.

A subsidiary of the National Stock Exchange (NSE), NSE Data has acquired 100 percent equity in Cogencis from Samara Capital I Partners Fund Ltd and minority shareholders, including Cogencis’ founder, co-founder and an employee welfare trust, the exchange said in a statement.

Cogencis’ provides real-time market data and financial news in India to trading clients through its Cogencis WorkStation, a real-time market data terminal including financial news. The WorkStation provides data on all asset classes including foreign exchange, fixed income, equities, commodities as well as macro-economic data, either generated on its own or aggregated through various sources.

As a part of the transaction, the news department of the company is sold to Informist Media Private Ltd with a five-year exclusive commercial arrangement with Informist Media to source news for Cogencis’ WorkStation.

Cogencis has an arrangement with Informist Data to continue the provision of a sub-set of the credit product covering all listed companies to users of the Cogencis WorkStation, as per PTI news.

“I am delighted to announce this acquisition as NSE Data and Cogencis are two complementary businesses. The business of Cogencis adds to the existing offerings of NSE Data by helping it acquire an additional channel to distribute and disseminate market data and analytical products and solutions,” said Vikram Limaye, MD and CEO, NSE.

“The Cogencis product and presence coupled with NSE's brand and analytics capabilities will propel the Cogencis WorkStation to a leading position in the country. It will also deepen our presence in the market and strengthen our position as a financial market infrastructure institution,” he added.

“I am happy that NSE Data has found value in what the team has built and I am sure the company will create even more value for its customers and its shareholders in the new phase of its journey,” said Pankaj Aher, founder and CEO of Cogencis.