Symphony Acquires NLP Solution Provider
Posted by Colin Lambert. Last updated: November 30, 2022
Infrastructure firm Symphony has announced the acquisition of Amenity Analytics, a natural language processing (NLP) data analytics solution. This acquisition will enhance Symphony’s markets strategy with highly relevant data and business insights use cases, including powerful ESG capabilities, the firm says.
Amenity specialises in extracting insights – through research quality assurance, tagging and key drivers – from a variety of content types including earnings call transcripts, news, social media, filings, and research, among other publicly available sources. Through this acquisition, Symphony says it will provide the market with a purpose-built, transparent and comprehensive insights and analytics offering that will help firms cut through noise and provide business intelligence in real time, reinforcing the company’s position in enabling content distribution.
“We are excited to provide a highly relevant NLP solution to support firms in addressing some of their most pressing challenges with a powerful business insights platform through the Amenity Analytics acquisition,” says Brad Levy, CEO of Symphony. “Our enhanced offering will allow the Symphony community, particularly buy-side firms, to track corporate activity, positioning, messaging, performance and sentiment that can be measured against a peer group. We understand the impact our NLP generated business analytics will have in facilitating insights driven decisions on multiple fronts.”
Nathaniel Storch, CEO of Amenity Analytics, adds, “This opportunity was uniquely attractive to us as we think the combination of our expertise in NLP with Symphony’s best in class communications platform, will yield exciting outcomes for our customers. Amenity has developed impactful use cases that tackle real time ESG insights, targeted content delivery and information overload, all key to the future of the finance world, and now they’ll be available to the over 1000 institutions Symphony serves.”
Amenity is the third company Symphony has acquired in the past 18 months. In June 2021, it acquired voice and electronic communication company Cloud9 Technologies and later that year, in August, the counterparty mapping platform StreetLinx. As a result of the integration of both firms’ technology and talent, Symphony says it has now introduced its Instant Voice proposition and enhanced its directory.