Unisys To Acquire TechHackers

Unisys Corp. today disclosed plans to acquire privately held TechHackers, a developer of software tools and enterprise systems for securities and financial organizations.

Unisys is ramping up its offerings for financial clients, who are increasingly becoming involved in securities and insurance, says Glenn Santmire, VP of Unisys worldwide financial and imaging solutions. TechHackers "product and capital service market skills will enable Unisys to help clients develop performance-, risk-, and wealth-management systems."

TechHackers, which specializes in systems for derivatives, fixed income, and asset and risk management, will maintain management offices in New York and London, along with all of its products. "Unisys opens up opportunities for us to compete and develop products in a new market," says Ron Weinberg, director of marketing at TechHackers.

The terms of the deal were not disclosed.