Dealing room communications vendor IPC has acquired WestCom, a US private telecommunications company that provides network services to financial services firms. Financial terms of the deal were not disclosed.
New York-based WestCom provides managed voice and data services to the financial trading community.
IPC signed a definitive agreement to buy the company in March and said it would combine the unit with its network services business, to provide greater network and support coverage to its customer base.
In today's statement IPC says the combination of its business with the Westcom unit provides a service platform "that links the trader voice communications of more than 3000 financial institutions worldwide".
Following the acquisition, IPC says it now "connects more traders to more counterparties in more countries than any other provider".
Lance Boxer, CEO of IPC, comments: "With this acquisition, we have created a truly global trader voice communications platform giving TCX community members unsurpassed service levels and more reach, reliability and resources than ever before."
IPC's Marianne Leitch has been appointed SVP and general manager of the vendor's expanded network services unit. Leitch joined IPC in 2000 and was most recently SVP for global network operations.