Steadfast Networks said Monday it acquired Radius IT, in a bid to create a network for financial trading.

Steadfast, based in New York, provides hosting, colocation and managed server services, said it the acquisition of Radius IT, also based in Chicago, "spurred the creation" of Steadfast Financial Networks. This will be a set of services for financial trading companies, including market data, consulting, colocation, network services and around-the-clock monitoring.

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