Finatext and Nowcast Merge
Summary
Finatext and Nowcast have agreed to integrate their businesses, with Finatext acquiring Nowcast through a share exchange to make it a wholly owned subsidiary. Finatext CEO Ryota Hayashi will become Nowcast's new representative director, while Nowcast founder Tsutomu Watanabe will remain involved as a co-founder. The companies will combine Finatext's retail investor data and service development strengths with Nowcast's real-time economic indices and big-data analytics to develop new indicators, algorithms, and asset-management services. They plan to accelerate global expansion and will hold a business briefing on the new structure and future services on September 7.
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