Capitolis, an Israeli fintech unicorn, has acquired the United Kingdom-based financial institution Capitalab for US$46 million.

Capitalab is known for its services that focus on reducing counterparty risk and managing the cost of derivatives portfolios.

The acquisition is expected to expand Capitolis’ capabilities in the financial optimization sector.

Capitolis has played a role in the offsetting of over US$10 trillion in interest rate derivatives, according to company disclosures.