Finsemble and Glue42 Merge
Posted by Colin Lambert. Last updated: June 8, 2023
Two of the firms involved in the push to increase desktop interoperability, Finsemble and Glue42, have merged to form a new business, Interop.io.
The firms say the new business enables them to offer a complete suite of interop products. At the heart of the platform is io.Connect, which enables clients to build and deploy intuitive front ends that combine different applications and functionality into a single, harmonised smart desktop. It also provides everything required for a controlled yet flexible roll out of interop-powered workflows, the firms add.
Leslie Spiro, previously CEO of Glue42, will serve as Interop.io’s CEO, while 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,” claims Spiro. “We provide the most innovative desktop and web interop technology that can follow users as they move from desktop to browser to tablet. [We] also provide the deployability, control and behavioural insights demanded by enterprises today.”
The two firms say interoperability, or data and UI integration of applications, has become one of the biggest trends in capital markets, and is now recognised 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, they add.
“We believe the industry needs one firm that is the standard bearer for interoperability and advanced workflow automation,” says 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, adds, “We look forward to the potential benefits to Citi’s interoperability initiatives, workflow automation and customisation with the Interop.io product offering as a result of the merger.”
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.
“Instead of working separately towards the same goal, our teams are now working together to deliver at twice the speed,” says Spiro. “We intend to emerge as the interoperability powerhouse.”
