Insig AI buys FDB Systems Limited in £10 million deal

Insig AI buys FDB Systems Limited in £10 million deal

LONDON, UK: Insig AI plc (LON: INSG), the data science and machine learning solutions company, has entered into a conditional share purchase agreement to acquire the entire issued share capital of FDB Systems Limited.

Insig AI plc will pay to the selling shareholders up to £10.0 million.

FDB Systems specialises in the collection and structuring of financial market data for investors and other capital markets participants.

Integrating FDB Systems’ data ingestion and structuring technology with Insig AI’s storage, visualisation and machine learning optimisation capabilities will allow the Company to offer a complete end-to-end financial data solution to its customers.

For more than 18 months, Insig AI has been a customer of FDB Systems and therefore has a close appreciation of its recent revenue growth and prospects.

Steven Cracknell, Insig AI CEO, said: “Our clients and our sales prospects are clear: access to structured data fast tracks our sales process. FDB Systems has world-class technology to ingest and make sense of the huge quantity of text-based disclosures and information available, which is otherwise very unstructured and difficult to access. Combining its technology with our machine learning and analysis tools creates a world-leading aggregator of ESG information.

“Using our BERT-based NLP classifiers and easy to use web tools, we can now provide a total solution to fund managers that makes it simple for them to interrogate the vast volume of available ESG data but which is difficult to access with any transparency. Rather than analyse each prospect’s portfolio piecemeal, now being able to cover a broad universe of companies will enable us to shorten the duration of demonstrating results.

“Having worked with the FDB Systems team led by Simon Mahony for some time, we are delighted to be integrating them fully into Insig AI. As well as complementary and synergistic benefits, we will now be able to access FDB Systems’ client list and growth.”

Simon Mahony, FDB Systems CEO, said: “Over the year and a half that we’ve been working with Steve and the team at Insig, we’ve seen first-hand the quality of the team and technology that they’ve put together. We are delighted to be combining with them when our businesses are so clearly complementary and where the opportunity in front of us is so compelling.”

www.insg.ai

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