Bloomberg LP has acquired Dublin-based semantic software provider PolarLake and launched a new enterprise data management service. According to the article, “Bloomberg’s new EDM unit, with the addition of PolarLake, will allow firms to increase their efficiency by better managing high volumes of data from multiple sources, either third parties or proprietary sources. ‘The PolarLake purchase is a strong signal to the marketplace that Bloomberg intends to be a leader in the enterprise data management business,’ said Thomas Secunda, Bloomberg Co-Founder and Global Head of Bloomberg’s Financial Products and Services.”

It continues, “PolarLake is a global leader in applying Semantic Web and Big Data technologies to the data challenges of the leading financial services firms in the world. The PolarLake Platform enables these firms to acquire, manage and distribute financial and reference data with speed, agility and control never before seen with traditional approaches.”

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Image: Courtesy PolarLake