On April 12, 2023, Numerix, a prominent figure in capital markets risk management technology, announced the acquisition of FINCAD, a top analytics firm specializing in the pricing and risk analytics of financial derivatives and fixed income products. Prior to the purchase, FINCAD was under Zafin, a leading provider of Product and Pricing SaaS solutions tailored for global financial institutions. The merger between Numerix and FINCAD will unify two of the capital markets' esteemed independent analytics providers. This amalgamation is set to reshape the industry by enabling Numerix clients to benefit from advanced decision-making software combined with superior analytics. Steven R. O'Hanlon, the CEO of Numerix, lauds the merger, emphasizing the synergy between the two firms. Al Karim Somji, Zafin's CEO, expressed optimism for FINCAD's growth trajectory under Numerix, highlighting Zafin's ongoing efforts to modernize global financial institutions with their SaaS platform. Scott Niehaus of Genstar Capital reiterated that strategic acquisitions like the one with FINCAD align with their investment vision for Numerix, aiming to bolster the company's capabilities in navigating the intricate regulatory landscape. Legal guidance for the transaction was provided by Willkie Farr & Gallagher LLP and Davies Ward Phillips & Vineberg LLP for Numerix, while Zafin collaborated with Fasken Martineau DuMoulin. On the financial front, Razorhorse Capital advised Numerix, and Scotiabank advised Zafin. The terms of the deal remain undisclosed.