Accuity Acquires CB.Net
Acquisition Creates World's Largest Payment Routing Data Provider
LONDON - Accuity, the global leading provider of payment
routing data, AML screening software and services, today announced that it has
acquired 100% of London-based CB.Net, a reference data provider for the global
banking community. The acquisition, which is effective immediately, brings
together two of the world's largest payment data providers. Thousands of
financial institutions and corporates worldwide already rely on Accuity and
CB.Net to improve rates of payment straight through processing (STP).
The acquisition will significantly bolster Accuity's existing customer
base of over 15,000 clients in 150 countries and create the largest, most
comprehensive payment data provider worldwide.
"Merging CB.Net's strength in the European market, particularly its
strategic partnerships with the European Payments Council (EPC) and the Euro
Banking Association (EBA), with Accuity's well-respected history and unrivaled
product portfolio will deliver immediate value to both firms' current and
prospective customers," said Hugh M. Jones, President of Accuity.
"The combined company represents a formidable presence in the global
payments industry and will deliver additional value and services to financial
institutions worldwide. Accuity is now the authoritative source for all global
payment data and sets the standard for the industry."
The combined company's market-leading payments products include The
Global Banking Resource(TM), Global Payment File(TM) and IBAN File from
Accuity and CB.Net's BankSearchPlus(TM), BroadcastAlert and BroadcastSearch.
These products offer a wide range of critical payments data including
SWIFT/BICs, active and inactive national clearing codes, Standard Settlement
Instructions (SSIs), SEPA Credit Transfer Adherence Participants and IBAN
"Since establishing CB.Net in 2000, we have strived to provide the
payments industry with the highly coveted 'golden copy' of reference data - a
trusted set of data for managing all aspects of payment STP within one
organisation. This merger makes that goal a reality." said Ian Dunning,
Managing Director of CB.Net. "I am looking forward to the new opportunities
that this merger provides and the new capabilities that it delivers to the
marketplace and our partners."
"As one company, Accuity and CB.Net offer the best single source of
payments data, more solutions and greater flexibility to the marketplace,"
said Jones. "Together, we will immediately begin the work of building even
stronger solutions to better serve the payment operations of banks and