By @NY Staff
In a deal valued at approximately $3.75 million, New York-based financial information services provider Stockpoint said it would provide Web-based and wireless applications for Barclays Global Investors (BGI).
Stockpoint, which is owned by content aggregation firm ScreamingMedia said its technology would power data integration for Barclays. Additionally, the company would develop automated analysis tools for the company’s financial advisors.
The software/services deal is pegged at $3.75 million and comes as parent company ScreamingMedia is positioning Stockpoint to compete head-to-head with the likes of Multex.com in the financial services space.
Stockpoint, which has headquarters in New York and offices in San Francisco, Iowa, London and Australia, would make the tools available on the iShares.com site run by Barclays.
The company said financial advisors using the iShares site would have access to an Allocation Calculator to calculate intraday allocations by sector size and style. The site would also feature a Correlation Analysis Calculator, a Premium Discount Chart and a Tracking Error Chart.
Barclays Global joins a slew of big-name clients on the companys roster. Deutsche Bank, Merrill Lynch HSBC Canada, National Discount Brokers, CUNA Mutual and PricewaterhouseCoopers, RW Baird and Thomas Weisel Partners are among Stockpoints clients.
