Toronto-based Zafin, which operates a product and pricing platform for banks, said the acquisition will help it expand its offerings for its clients, which now number more than 450. The terms of the deal weren’t disclosed. (The Logic)

Talking point: Fincad, based in Vancouver, provides derivative and fixed-income pricing, modelling and risk analytics to large financial institutions—an area of expansion for Zafin, according to group CEO Al Karim Somji. “As we look to further accelerate our global growth and enhance our end-to-end pricing and analytics offering to the marketplace, this move into the capital markets space is a key step,” he said. Founded in 2002, Zafin now has more than 500 employees across 13 offices, and according to The Globe and Mail is considering an IPO as soon as next year.