Enterprise subscription spend and usage management software provider TRG Screen has acquired Xpansion, a cloud-based solutions provider for reference data usage monitoring in the financial services sector.

The financial terms of the transaction were not revealed.

Through the acquisition of Xpansion, TRG Screen aims to further solidify its position in market data management solutions.

Founded in 2013, Xpansion focuses on supporting data operations teams to proactively manage their usage, control costs and streamline data workflows.

The firm’s offerings include Xprocess, Xmon, and Xplore, and deliver real-time analytics, providing clients with unprecedented transparency, visibility and control of their reference data usage.

Xpansion co-founder and CEO Amjad Zoghbi said: “Reference data usage is one of the most complex aspects of market data management, and managing it correctly is essential to maintaining contractual compliance and ensuring clients are right-sizing their usage based on actual consumption and business need.”

TRG Screen said that the transaction solidifies its unique position as the only provider of enterprise subscription management capabilities.

It includes the whole spectrum of market data optimisation, from spend and inventory tracking, through to usage and enquiry management, exchange reporting and compliance.

Based in the US, TRG Screen monitors both the spending and usage of data and information services including software licenses, market data, research, consulting and other corporate expenses.

TRG Screen CEO Leigh Walters said: “Xpansion and TRG Screen have been partners for many years. Bringing Xpansion into the TRG Screen family is a very logical next step for both companies, given our strong relationship and shared view that the industry demand for integrated usage management solutions is going to continue to grow.

“Xpansion is an established firm with excellent customer satisfaction and retention, and highly experienced and industry respected leadership.”