[London, UK, June 7, 2023] – Finsemble and Glue42 today announce the two firms have merged, bringing together the best in desktop interoperability technology and automated workflows. The merger positions the new firm, interop.io, as the industry leader in interoperability for capital markets and beyond.
interop.io brings together the award-winning technologies of both companies to offer a complete suite of interop products. At the heart of the platform is io.Connect, which enables clients to build and deploy highly intuitive front ends that combine different applications and functionality into a single, harmonized smart desktop. io.Connect also provides everything required for a controlled yet flexible roll out of interop-powered workflows.
For Glue42 and Finsemble clients, partners, prospective clients, and the industry, the merger will accelerate a journey led by the two fastest growing players in the space. By leveraging the strengths of the combined teams, interop.io will deliver even faster on the innovation and industry leadership that has driven growth and customer success in each firm.
Leslie Spiro, previously CEO of Glue42, will serve as interop.io’s CEO. Dan Schleifer, previously CEO of Finsemble, will serve as President.
“Capital markets require advanced, automated workflows from application to application, and from user to user. Only interop.io has the technology stack to deliver this,” said Spiro. “We provide the most innovative desktop and web interop technology that can follow users as they move from desktop to browser to tablet. interop.io also provides the deployability, control and behavioural insights demanded by enterprises today.”
Interoperability, or data and UI integration of applications, has become one of the biggest trends in capital markets, and is now recognized as one of the most transformative technologies to come to the industry. It (coupled with the universal FDC3 API standard for application interoperability) is currently used in production by the largest buy sides, sell sides, and technology vendors across the industry.
“We believe the industry needs one firm that is the standard bearer for interoperability and advanced workflow automation,” said Schleifer. “We merged as interop.io to accelerate our shared company vision of delivering a best-in-class solution with demonstrable ROI.”
Rhyddian Olds, Head of UI and Services for Citi’s institutional business and a Finsemble client and strategic investor in the combined firm stated, “We look forward to the potential benefits to Citi’s interoperability initiatives, workflow automation and customization with the interop.io product offering as a result of the merger.”
Both firms provide the ability for applications to share data and context intelligently, with the shared mission to create Straight-Through Workflows that integrate and streamline the work of capital markets professionals, freeing them to focus on higher value tasks. Both firms have had record breaking years in terms of product development, client success and revenue growth.
“Instead of working separately towards the same goal, our teams are now working together to deliver at twice the speed,” added Spiro. “We intend to emerge as the interoperability powerhouse.”
The merger will also bring the Tick42 Professional Services division into the new company, where it will be known as interop.io PS and be led by Susan Walters.
interop.io has three key advantages:
- Industry-Leading Technology. The most advanced and complete interoperablity technology delivered to desktop and web supported by optional cloud or on-prem services for deployment, application management, notifications and user insight discovery.
- 100% Client Commitment. The interop.io client success team and proven delivery methodology gets clients deployed into production and able to reap the benefits of interoperability faster.
- Stability and Growth. interop.io is now the industry leader – profitable, with the highest revenue, fastest growth rate, largest R&D team, and the most smart desktops in production.
Gab Columbro, the FINOS Executive Director and General Manager for Linux Foundation Europe, said, “Glue42 and Finsemble joining forces is another huge testament to the value of FDC3 and open collaboration for financial services. I have no doubt the combined force of two of the leading providers of interop technologies will push FDC3 to a new level of industry adoption.”
Ray Tierney President of Broadridge Trading and Connectivity Solutions (BTCS) added, “I have always been a fan of disruption and the combination of Glue42 and Finsemble brings together two great technologies and two excellent management teams with a real focus on execution.”
interop.io was formed in June 2023 through the merger of Finsemble and Glue42 to create the global powerhouse driving application interoperability in capital markets and beyond. Leveraging FDC3 and workflow automation, interop.io allows clients to create Straight Through WorkflowsTM and benefit from unparalleled levels of business agility, a more productive workforce and better operational control.
The firm employs over 170 people including 110 full time R&D and implementation engineers located in New York, Charlottesville, London and Sofia. For more information, read the letter from our founders.