State Street’s Acquisition of CRD: Off Their Meds, or Crazy Like a Fox?
State Street just acquired the buy-side order management platform Charles River Development for $2.6 billion – that’s nearly nine times revenues and almost three times the global annual software spending for all order management platforms combined. But there is no way anyone would pay that much for a platform in this space, argues Larry Tabb. State Street has another plan.
In this Market Note, Larry Tabb provides his thoughts about the acquisition, valuation and why State Street paid seemingly so much.
- Fixed Income