A Manhattan company has bought Correctnet Inc., a Hauppauge software company that provides Web-based investment data to financial institutions and hedge funds, the companies said Wednesday. The buyer, Netik LLC, did not say how much it paid.
Founded in 1997, Correctnet in 2008 got $1.25 million in venture capital financing that it planned to use for expansion, Newsday reported.
On Correctnet's website Wednesday, a news item was titled: "Netik acquires CorrectNet to enable Netik to deliver a broader spectrum of solutions to address the complete information creation, management and delivery chain."
The news release said, "Netik LLC, a Symphony Technology Group (STG) portfolio company and leading global financial information management provider, announced today the acquisition of CorrectNet, the market leader in managed client communications and delivery. The union of CorrectNet with Netik’s information management products and services is highly complementary and unique to the market place."