We’re pleased to announce our acquisition of New Zealand-based financial data services company Infoscan.
In a move designed to augment the existing Hedgebook offering as well as create new IP, we see the acquisition as a key step in our expansion into international markets.
With an offering that now encompasses our flagship Hedgebook Pro cloud-based treasury management, Hedgebook Audit (our valuation tool designed for auditors), Excel-based modelling tools, rate feed packages and mobile solutions, we feel we are now well positioned as one of the leading providers financial derivative management solutions.
“This acquisition is an important step in Hedgebook’s growth. It extends the Hedgebook offering, creates economies of scale and allows us to innovate with the combined Hedgebook-Infoscan technologies.” says Hedgebook director and Xero co-founder Hamish Edwards. “Our first priority is to make sure that the transition is a positive one for current Infoscan customers. From there we will be working hard to bring new products to market that take advantage of the combined IP that we now have in our kitbag.”
Hedgebook CEO Richard Eaddy is equally excited about the acquisition. “We have worked with Infoscan as a provider of data for the Hedgebook products for some time now. This acquisition made sense on many levels as it allows us to deliver greater value to Hedgebook and Infoscan customers, and it also means that we now have one of the most comprehensive sets of derivative management tools available” says Eaddy. “We feel that this acquisition positions us well in a growing market.”
The opportunity created by new accounting standards was a key driver for our Infoscan acquisition. “With IFRS 13 coming on stream, the rigour that companies need to apply to accounting for financial derivatives has gone to another level. Tools like Hedgebook that offer the ability to quickly gain independent valuations will be an important part of a finance team’s toolkit,” says Eaddy.