SunGard has announced that it has extended the company’s reach with one more acquisition, of Kiodex, a software company that specialises in supplying systems to companies exposed to commodities risk.
Kiodex, which was bought by SunGard subsidiary SunGard Trading and Risk Systems, supplies web-based risk management, financial reporting, FAS 133 compliance and market data solutions for its commodities clients. The price and terms of the deal have not been disclosed.
Kiodex’s main programme, Risk Workbench, is a web-based application that helps companies, banks, and hedge funds hedge and trade commodities: deal capture, valuation models, risk reporting, and back-office functionality.
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