Markit Group, a provider of benchmark data and portfolio valuations for the over-the-counter derivative markets, acquired Chasen Enterprises, according to a news release today from Markit. Chasen provides modeling and other financial analytics on structured securities, including collateralized mortgage obligations and other asset-backed securities. Officials of the companies declined to disclose terms of the deal, said Teresa Chick, Markit director-corporate communications. Chasen will be absorbed into Markit, said Kevin Gould, Markit executive vice president and head of data products and analytics.
The acquisition's "principal goal is to marry together analytics and deal data and market data" to provide independent source of valuation and risk characteristics of OTC derivatives, Mr. Gould said.
Andrew Chasen, founder and president of Chasen, will become a director and part of the Markit's management team, Mr. Gould said. Chasen's other 10 employees will be invited to join Markit. Markit has about 250 employees, Mr. Gould added.