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Cicada Divests Holdings in CounterpartyLink

Cicada Corp. has announced the sale of its investment in CounterpartyLink to a group of investors led by Andover Capital, an Investors Guaranty Group company.

Cicada and a group of private investors provided the original capital for CounterpartyLink, launching the company and its first set of product offerings in 2005. Cicada’s investment had also included developing and implementing the initial infrastructure and data collection processes used by CounterpartyLink in its global data centers.

Since the company’s market launch, CounterpartyLink has become a preeminent provider of global client, counterparty and issuer legal entity reference data. The company offers a range of legal entity data products and services, serving leading financial firms around the world. CounterpartyLink’s offerings have become known for their quality and compliance-driven focus.

The purchase offer represents a compelling return on investment for the Cicada group. The transaction was also a logical strategic move for Cicada as the company continues to focus on its core business: providing software solutions for real-time and reference data management, algorithmic trading infrastructure and Know Your Customer data compliance.

CounterpartyLink will continue to license and use Cicada’s Composer data management technology to further build and maintain its legal entity database. The company will also be an authorized sales channel and distributor of the legal entity data management version of the Cicada Composer software platform.