CompuSoft is buying Amazon’s financial markets research company, CompuNetwork, for $11.1 billion, the company said.
The deal includes $6.5 billion in cash and a non-compete clause that would end in 2021, the firm said in a statement.
Amazon is the largest private-sector buyer of Compuserve’s products, and the deal represents an escalation in the relationship between the two companies, according to the company.
Compu Network has about 40,000 customers.
Amazon CEO Jeff Bezos and Amazon’s board of directors unanimously approved the acquisition.
CompusNet will focus on research, development and market development of financial markets software and technology solutions.
The company is in the process of expanding its offerings and hiring more people, the statement said.
Amazon has said it will use the CompuNet acquisition to focus on its core business, including online sales, data analytics and payments, but it has yet to say what that will look like.
The transaction is part of Amazon’s $100 billion purchase of Compensys, which makes data-analysis tools for companies such as Wells Fargo and the Securities and Exchange Commission.
The combined company will have about 1,400 employees, according the statement.
CompuSoft CEO Kevin Hsieh said in the statement that Amazon and Compu Networks will work together to build on the strengths of the companies’ research capabilities.
CompusNet is focused on building a global network of data scientists and developers, and building tools for financial markets researchers to accelerate their research and analytics work, Hsiey said.