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Markit To Acquire JP Morgan Risk Management Software

The Dallas-based software firm will acquire FCS in the transaction.

July 28, 2008

Markit, a financial services information company, will acquire J.P. Morgan FCS Corp., the financial institutions’ risk management software business unit. Terms of the transaction were not disclosed.

The merger of Markit and the JP Morgan division will provide
Markit with the opportunity to provide more data and software  solutions to the combined company’s 400.

Lance Uggla, Markit chief executive officer, said: “Both FCS and Markit have long and proven track records of building critical infrastructure to support the global loan market, including software and pricing. This is an exciting development for our employees and customers alike.”

FCS’s management team is based in Dallas, Texas, and will join Markit’s management team. President of FCS Mark Murray will become executive vice president at Markit.

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