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SparkCognition, the world’s leading industrial artificial intelligence (AI) company has announced that it has entered into an agreement to acquire AIM2 from hedge fund management company Brevan Howard and global investment bank Nomura.
SparkCognition has also executed contracts with both Brevan Howard and Nomura, which will allow SparkCognition to further expand its AI capabilities into the financial services vertical and meet the needs of its customers around the world.
AIM2 was launched in 2015 and became a joint venture between Brevan Howard and Nomura in 2019, and is a financial technology company that is transforming market making and quantitative investment strategy with cutting-edge artificial intelligence products.
As a result of this agreement, SparkCognition will begin providing AIM2‘s products and technology including ORCA/AI Trader, Alpha Cycles, and Alpha Waves.
This will allow SparkCognition extended opportunities in financial services providing a comprehensive portfolio of AI offerings complementing their Darwin, DeepNLP, and DeepArmor products.
“We are excited to have finalized this acquisition moving the AIM2 team and products under the SparkCognition umbrella,” noted SparkCognition CEO Amir Husain. “Building on the accomplishments of Brevan Howard and Nomura and continuing to work with them allows us to accelerate the momentum of our AI capabilities in financial services and position SparkCognition at the heart of this industry.”
Brevan Howard is licensing AIM2‘s cutting-edge Alpha Cycle and Alpha Wave products along with SparkCognition’s industry leading DeepNLP and Darwin products.
“SparkCognition’s unique skillset and talent coupled with AIM2‘s financial products and expertise will make the combined company a force to be reckoned with,” said Alan Howard, co-founder of Brevan Howard.
Nomura is accelerating the global deployment of AIM2‘s ORCA/AI Trader across its flow businesses. This will assist in augmenting banks’ trading ecosystem for broad asset classes such as: Fixed Income, swaps, credit and FX.
“Nomura is looking forward to working with AIM2 and SparkCognition in bringing advanced AI capabilities to our market making and trading capabilities over the coming years,” said Wholesale Chief Digital Officer for Nomura Jez Mohideen.
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