HP Takes $30 Million Capco Stake
By @NY Staff
Hewlett-Packard Company
Under the agreement, HP and Capco plan to develop services to help financial services customers settle trades from three days to within one, as mandated by the Securities and Exchange Commission.
The alliance also plans to provide products and services aimed at market issues such as consolidation and cross-border trading. HP and Capco said they will target customers in capital markets, private client and asset management segments of the financial services industry.
Capco said it would provide consulting and customized software for STP, transaction processing, operational risk management, multi-channel distribution, data management, and financial performance management.
With the stake, the Palo Alto, Calif.-based HP becomes Capco's preferred provider of IT infrastructure and services, while Capco gets the same distinction as HP's vendor of process consulting services and software.
Capco, with 800 employees, maintains offices in New York, London, Frankfurt, Paris and Singapore.
and Capco, which provides straight-through-processing technology to the financial services industry, have formed an alliance that includes a $30 million investment from HP.