Affinity Systems

In 1989, a company named Affinity Systems was founded in Ontario, Canada, starting its journey as a developer of custom software products. The firm, led by joint managing directors Leslie Goldsmith and Hugh Hyndman, specialized in creating software and providing consultancy services to solve complex issues across various industries. The company carved out a niche by combining third-party software with its own proprietary solutions, working with large organizations in Canada. A significant area of focus became big data, particularly managing and reporting on sensor data. This expertise led to a partnership in February 2014 with Kx Systems, a company in which financial software group First Derivatives (FD) held a majority stake. This collaboration proved to be a pivotal moment. Just over a year later, on April 1, 2015, First Derivatives announced it was acquiring Affinity Systems. The deal, valued at up to £7.7 million, was structured with an initial payment and further compensation tied to revenue targets. The acquisition was a strategic move for FD to expand its software and consulting services into the growing "Internet of Things" sector, leveraging Affinity's expertise in utilities, healthcare, and finance. Following the acquisition, Leslie Goldsmith and Hugh Hyndman remained in their roles to guide the company within the new structure.