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

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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