NSE Data & Analytics Acquires Market Data Terminal firm Cogencis

Reuters

NSE acquires financial data provider Cogencis

21 January 2021

India’s National Stock Exchange (NSE), the biggest bourse in the country, on Thursday said it has acquired Indian financial data provider Cogencis Information Services Ltd from Samara Capital for an undisclosed sum.

Cogencis provides real-time market data and financial news in India to trading clients through its Cogencis WorkStation.

As part of the transaction, NSE Data & Analytics Ltd, a 100% subsidiary of NSE, has acquired the terminal business of Cogencis and sold the news arm of the company to Informist Media Private Ltd, the exchange said.

Informist Media would exclusively provide news to Cogencis WorkStation for five year to ensure continuity of service to existing customers of the Cogencis WorkStation, it said.

Cogencis started operations in 2001 as CRISIL Market Wire, a wholly owned subsidiary of the ratings agency CRISIL, and competes in India with Bloomberg and Refinitiv, a company in which Thomson Reuters owns a minority stake.

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Economic Times

NSE acquires market terminal firm Cogencis data

21 January 2021

NSE Data & Analytics, a subsidiary of the National Stock Exchange (NSE), on Thursday said it has acquired Cogencis Information Services, provider of real-time market data terminals to institutional customers.

However, the financial details of the deal were not disclosed.

NSE Data has acquired 100 per cent equity in Cogencis from Samara Capital I Partners Fund Ltd and minority shareholders, including the company's founder, co-founder and an employee welfare trust, the exchange said in a statement.

Cogencis' flagship product is Cogencis WorkStation, a real-time market data terminal including financial news.

The Cogencis 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 part of the transaction, the news department of Cogencis has been sold to Informist Media Private Ltd.

Cogencis has entered into a five-year exclusive commercial arrangement with Informist Media to source the news for the Cogencis WorkStation. As a result, there will be absolute continuity of service to customers of the Cogencis WorkStation, it said.

Cogencis news will now be known and available as Informist news on the Cogencis WorkStation.

Further, the credit business of Cogencis has been sold to Informist Data and Analytics.

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, it added.

"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.

Mukesh Agarwal, CEO, NSE Data, said Cogencis has a strong presence in the fixed income and foreign exchange markets and NSE Data has been working on developing the fixed income analytics market including bond valuations.

"Our focus will be to increase the value proposition for the market participants by leveraging on the strengths and synergies of NSE Data and Cogencis. We will build on the foundations Cogencis has laid and take the value proposition to a different level altogether," he added.

Cogencis started as CRISIL Market Wire, a wholly owned subsidiary of the ratings agency CRISIL, in October 2001. In January 2007, it morphed into India’s first market data terminal company NewsWire18 Ltd, a company owned 70 per cent by the listed firm TV18.

In December 2012, India-focussed, sector-agnostic private equity firm Samara Capital bought out TV18, following which the firm was rechristened as Cogencis.

"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.

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