Source Media Acquires Banking Data Provider
CB.Net to become subsidiary of Source’s Accuity business.
B-to-b publisher Source Media has acquired London-based CB.Net, a reference data provider for the global banking community. Source said CB.net will become a wholly-owned subsidiary of its Accuity business, a database provider of payment routing data and anti-money laundering screening software.
Financial terms were not disclosed.
According to Accuity president Hugh M. Jones, the acquisition bolsters the company’s existing client base. “As one company, Accuity and CB.Net offer the best single source of payments data, more solutions and greater flexibility to the marketplace,” he said.
Owned by Investcorp, Source Media publishes magazines that serve the banking, capital markets, technology and professional services sectors. Its magazines include American Banker, the Bond Buyer and Origination News.