Charlottesville, VA (PRWEB) November 17, 2011
SNL Financial LC and Datatrac Corp. today announce SNL’s acquisition of Datatrac’s Interest Rate Products. As a result of the acquisition, SNL’s clients will have unlimited access to over 10 million rates and fees from over 100,000 depository locations with over 10 years of history.
“SNL is excited to provide our clients with yet another powerful tool for the in-depth analysis of banks and credit unions,” noted John Montgomery, Director of SNL’s Financial Institutions Group. “For almost 25 years, our clients have relied on us not only for the most trusted information on financial institutions, but also to continuously improve our best-in-class data and tools. As the industry leader in collecting and distributing accurate and timely interest rate data, Datatrac provides financial institutions the information they need to stay competitive and informed within their markets, making it a natural fit within SNL’s coverage of the banking sector,” he continued.
Following the integration, the rate and fee information will be combined with SNL’s leading financial data, branch & deposit data, demographics, news, and analytical tools into SNL’s existing platform.
Ken Wanek, CEO of Datatrac Corp, remarked, “We are very excited to partner with a firm who shares our commitment to timely and accurate data and will continue to offer world class service to clients of the Datatrac Interest Rates Products.”
Following the acquisition, Datatrac Corp. will continue as a standalone company offering marketing and consumer services with interest rate data provided by SNL. Mr. Wanek stated, “This partnership with SNL enables Datatrac Corp. to focus on dramatically expanding its marketing and consumer services.”
Dennis Rooker, PC was legal advisor to SNL and Mark Ehrmann from Quarles & Brady LLP served as legal counsel for Datatrac. Terms of the transaction were not disclosed.
SNL Financial is a leading provider of financial information on more than 3,300 public companies and 50,000 private companies in the business sectors critical to the global economy: Banking, Financial Services, Insurance, Real Estate, Energy and Media & Communications. The SNL information service integrates breaking news, comprehensive data and expert analysis into an electronic database available online and updated around the clock. SNL’s statutory data includes detailed financial data on each filer, reinsurance, investment and loss reserve schedules, data by state and line of business and hundreds of ratios, snapshots and analytics, available exclusively as part of SNL Unlimited service for Financial Institutions. SNL is the only information provider to offer clients a comprehensive insurance product, linking statutory data with public company data, mergers & acquisitions data, proprietary news, documents and more. To find out more about SNL Unlimited, contact sales(at)snl(dot)com or call +1.866.296.3743.
Datatrac Corp. is a marketing services and research firm specializing in the financial services industry with solutions that generate new loans, attract and retain deposits and increase margins for clients. Datatrac is America’s largest, most accurate, unbiased database of deposit and loan rates, fees and specials. As a leader in the industry for over 20 years, Datatrac’s innovative marketing and competitive intelligence solutions have helped thousands of financial institution clients increase their loan and deposit portfolios and make more effective pricing and product development decisions. To find out more about Datatrac Corp., visit http://www.datatrac.net.
SNL Media Contact:
Datatrac Corp. Contact:
414-223-2300 extension 3037