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Beeks Financial Cloud acquires Velocimetrics

Beeks Financial Cloud Group acquires network monitoring and analytics firm Velocimetrics to expand our product offering into network automation and trading analytics.

Beeks Financial CloudEditor
15th Apr 2020

At Beeks, we continue to expand our business offering to institutional organisations in the Financial Services space with the acquisition of Velocimetrics, a UK-based network monitoring and trade analytics software company.

Beeks already provide market-leading, consumption-based cloud computing and connectivity to the Financial Services Industry and the addition of monitoring services around our current product portfolio, supported by our own UK-based Network Operations Centre, made complete sense.

Velocemetrics is a complementary fit of talent and technical capabilities that allows us to extend our relationship and solutions within our respective customer bases. The Acquisition expands the Beeks’ product offering into network automation and trading analytics, increasing the Group’s competitive differentiation from generic cloud hosting and infrastructure providers.

This move will increase our security and monitoring capabilities even further by allowing our customers to instantly detect emerging performance, operational risk or regulatory concerns.

Gordon McArthur, CEO of Beeks Financial Cloud commented: While the Group is focused on organic growth, we continue to assess strategic acquisitions that will complement our business model and expand our offering. The acquisition of Velocimetrics accelerates our product roadmap, providing us with the ability to offer our clients network monitoring and trade analytics, increasing our competitive differentiation while minimising anticipated product development spend for this functionality. We believe the Velocimetrics offering will have wide applicability across our institutional customer base and look forward to welcoming the Velocimetrics team into the Group. 

Founded in 2009, Velocimetrics provides real time network monitoring and trade analytics software to a global client list of financial services businesses, including Tier 1 banks, exchanges, brokers, hedge funds and payments providers to meet the specific monitoring and performance analysis needs within these complex environments.

Steve Colwill, CEO of Velocimetrics, commented: “I am delighted with this acquisition, with the two companies clearly being an excellent fit for each other. Our market-leading analytics will form part of the Beeks offering and this partnership will provide the combined know-how and platform to develop this strategy further. We will of course continue to drive forward our innovation and development, at least at the same pace as we always have, if not faster. I’m very much looking forward to our teams working closely together.”

Velocimetrics innovative technology continuously tracks and assesses the real-time status of every single market data tick, order, trade or payment. Instead of monitoring infrastructure health or IT processes, Velocimetrics focuses on what matters most – the actual payments and trades being processed.

The result is business flow performance tracking and analysis solutions that deliver uncompromised operational oversight. Users are immediately alerted to any changes to the way in which these items are flowing that could indicate emerging performance, financial or operational risk, client experience or regulatory concerns.

This enables firms to increase profitability, manage emerging operational risks and address expanding regulatory demands by tracking and analysing exactly what’s happening to every trade or payment – in real time.

At Beeks, we help customers drive revenue into new regions and geographies, reducing the risk of those projects by removing any large capital expenditure. The addition of the Velocimetrics solutions into our on-demand services increase that capability even further through greater insight of their electronic transactions and trading technology.

While financial service firms take different routes and approaches to creating value from digital business, one constant theme for CIO’s is to make sure their infrastructure is secure. Mitigating the risk of exploding data volumes, infrastructure complexity and ever-changing cyber threats requires a different approach.

Beeks already provide an enhanced DDoS protection service with real-time alerts and monitoring via our Partner Portal to show that Beeks is mitigating it on their behalf. This is in addition to our Backup Service, also managed via the Portal which allows clients to save server images of their data to a secure offsite location for greater redundancy.

The exciting addition of network automation and trading analytics strengthens our service offering and provides our customers the opportunity to achieve complete operational oversight across their complex business processes.

Contact us to find out more Download LSE release Visit Velocimetrics

 

 

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