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Direct Investment  + Alternative Assets  + M&As  + Private Equity  |  August 22, 2024
Stellex Capital Partners with Communify to Buy Fincentric
Joe Palmisano
By: Joe Palmisano

Stellex Capital Partners with Communify to Buy Fincentric

Communify, a software investment firm launched earlier this year by former InvestCloud founder John Wise, in partnership with private equity firm Stellex Capital, has acquired Fincentric, a software development and data provider primarily to US brokerages serving self-directed investors, from S&P Global. The acquisition will merge Fincentric with Communify’s existing wealth and asset management business, to form Communify Fincentric.

The new company provides a digital platform for financial institutions through a software-as-a-service suite of solutions powered by artificial intelligence that address client communication, automation, and management.

“Unifying Fincentric’s market data capabilities with Communify’s expertise in client data creates a strong digital partner for the financial markets,” said Wise, chairman and CEO of Communify Fincentric. Our shared client-centric, design-centric mindset will be pivotal as we look to grow Communify Fincentric domestically and worldwide.”

Communify aims to build on the success of Fincentric’s platform, which taps 4,000 data feeds and gets more than 563 million page views a day, Wise added.

S&P Global was reportedly considering options for Fincentric, formerly Markit on Demand, in February 2024. Fincentric was previously incorporated into S&P Global as part of the $44 billion acquisition of IHS Markit in 2020.

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Communify Stellex Capital

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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