Zelig is delighted to announce that it has acted as sole financial advisor to Glue42 on its merger with Finsemble. The merger positions the new firm as the industry leader in interoperability for capital markets and beyond.
Leslie Spiro, previously CEO of Glue42, will serve as interop.io’s CEO. Dan Schleifer, previously CEO of Finsemble, will serve as President.
Interoperability, or data and UI integration of applications, has become one of the biggest trends in capital markets, and is now recognized as one of the most transformative technologies to come to the industry. It is currently used in production by the largest buy sides, sell sides, and technology vendors.
“We provide the most innovative desktop and web interop technology that can follow users as they move from desktop to browser to tablet. Instead of working separately towards the same goal, our teams are now working together to deliver at twice the speed. We intend to emerge as the interoperability powerhouse.”
“Zelig worked with us to review the options available to develop Glue42, they then assisted us through the merger with Finsemble to create interop.io. This was a complex transaction involving multiple jurisdictions, and multiple stake holders. Their advice throughout was clear and helpful, and it was especially useful around key negotiations on business and governance. I would not hesitate to recommend them to other founders and CEOs.”Leslie Spiro
“We believe the industry needs one firm that is the standard bearer for interoperability and advanced workflow automation,” said Schleifer. “We merged as interop.io to accelerate our shared company vision of delivering a best-in-class solution with demonstrable ROI.”Dan Schleifer
“We look forward to the potential benefits to Citi’s interoperability initiatives, workflow automation and customization with the interop.io product offering as a result of the merger.”Rhyddian Olds
Head of UI and Services for Citi’s institutional business
A Finsemble client and and strategic investor in the combined firm
interop.io was formed in June 2023 through the merger of Finsemble and Glue42 to create the global powerhouse driving application interoperability in capital markets and beyond. Leveraging FDC3 and workflow automation, interop.io allows clients to create Straight Through Workflows™ and benefit from unparalleled levels of business agility, a more productive workforce and better operational control.
The firm employs over 170 people including 110 full time R&D and implementation engineers located in New York, Charlottesville, London and Sofia. For more information, read the letter from the founders.