TRG Screen, the provider of enterprise subscription spend management solutions, has acquired the Market Data Reporting (MDR) business from Jordan & Jordan (J&J).
MDR is a managed services solution focused on providing reporting and related services to ensure compliance with licensing, provisioning, distribution and reporting policies.
According to TRG, the acquisition of MDR complements its existing managed services business, particularly the Axon Declaration Service (ADS).
Currently, TRG Screen is working on the integration of MDR and ADS to make it the go-to offering for a managed declaration service.
As part of the deal, a number of key Jordan & Jordan staff will move to TRG Screen providing continuity for clients and transfer of industry expertise.
“TRG & J&J have been friends and partners for more than 20 years and we’re thrilled to be able to build on this relationship and take on MDR, bring it together with ADS, and provide industry leading capabilities for exchange reporting and compliance to the marketplace,” says Steve Mathews, CEO of TRG Screen.
Tom Jordan, CEO of Jordan & Jordan, comments: “Exchange reporting is one of the most complex aspects to market data management, and managing it correctly is essential to maintain contractual compliance and ensure you are right-sizing your costs based on your actual consumption.”
Jordan adds: “I’m very pleased that MDR’s customers, and team, will now be part of the best-of-breed solution with the industry’s leading provider of market data management solutions. Our market data consulting practice will partner with TRG Screen to deliver innovative solutions.”
Brian DeCicco from Berkery Noyes served as the exclusive financial advisor to Jordan & Jordan. The financial terms of the transaction were not disclosed.
