Symphony becomes a leader in financial market communications with the acquisition of Cloud9 Technologies

EQS-News / 06/24/2021 / 11:17 PM EST / EDT

Symphony becomes a leader in financial market communications with the acquisition of Cloud9 Technologies

NEW YORK, NY and LONDON, UK / ACCESSWIRE / June 24, 2021 / Symphony – the main infrastructure and technology platform of financial markets – acquired the voice and electronic communication company of traders Cloud9 Technologies (Cloud9). With this acquisition, Symphony will take the lead in front office communications with new services and solutions that combine merchant voice with natural language processing (NLP) and automation. The combined offering will accelerate trade flows, improve transaction accuracy, and expand back office and remote worker use cases.

“Symphony builds on our strong technology base and global network as we seek to solve real problems in marketplace workflows. With this acquisition, Symphony takes the lead in the emerging market communication space and brings critical merchant voice capabilities to the Symphony platform, adding the functionality of C9 to our secure and compliant communication stack, with chat, voice and video meetings, file and screen sharing. Our combined capabilities will enable more integrated and immediate conversational workflows, and front office users will be better served, ”said Symphony CEO Brad Levy.

Over the past year, Symphony has consolidated its position in financial services as a critical market infrastructure, while Cloud9 has established itself as a leading cloud voice platform for financial markets. The combined capabilities of the two companies will reshape the way market players interact and unlock meaningful and innovative data analysis and workflow solutions. Symphony’s comprehensive front-office communication solutions will enable connectivity to remote and office financial services professionals, while delivering a high-quality voice communication experience for merchants to its global user community.

“Six years ago, Cloud9 set out to change the way traders’ voice services were delivered to the modern trading desk. As messaging had already impacted the trading communications workflow, we felt that the value of voice communications in fast-paced and complex trading scenarios would be renewed by leveraging Cloud9 to build a user community and provide them with the tools to communicate verbally. The Cloud9 team is thrilled to partner with Symphony. It is clear to us that the collective capabilities of our organizations will bring even more value to the financial services community, improving and accelerating the delivery of secure, cloud-based multimodal communications. We are excited about the future of our business and the industry, ”said Gerald Starr, CEO of Cloud9 Technologies.

The acquisition of Cloud9 Technologies is expected to be the first of several acquisitions for Symphony. Levy previously shared that Symphony would buy, partner or acquire strategic assets for the business and industry, as reported Initiated, Financial news and Asian Private Banker. Symphony is now positioned to provide the next wave of market communication solutions.

Marlin & Associates and Goodwin were Symphony’s financial and legal advisers, respectively, while Broadhaven and Wilmer Hale were Cloud9’s financial and legal advisers, respectively, in this transaction. Financial details of this transaction were not disclosed.

About Symphonie

Symphony is the industry’s most secure and compliant infrastructure and technology platform, where solutions are designed or integrated to standardize, automate and innovate financial services workflows. The Symphony platform is a vibrant community of over half a million financial professionals from over 500 market players with a trusted directory. It powers over 2,000 community-created apps and bots. The company was founded in 2014 and has raised $ 510 million from institutional investors. For more information visit www.symphony.com.

About Cloud9 technologies

Cloud9 Technologies is the leading voice communication and analytics platform designed for the unique needs of the financial markets. Cloud9 has developed a solution that harnesses the communication path of voice communication for the trading floor of the future – delivering more functionality and analytical insights than existing hardware at a fraction of the cost. Cloud9 connects counterparties of all asset classes through a cloud-based communications platform that eliminates the infrastructure and expense associated with legacy hardware and telecommunications solutions, with front-end-driven data and transcription -office, specially designed for financial markets. For more information visit www.c9tec.com.

Press contact

Odette maher
Head of Global Communications
Symphonie communication services
+44 (0) 7747 420807 / [email protected]

SOURCE: Symphonic Communication Services, LLC

06/24/2021 Distribution of a marketing press release, sent by EQS Group.
The issuer is solely responsible for the content of this advertisement.

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