New York
05 September 2017
Reporter: Jenna Lomax

Nasdaq acquires eVestment for $705 million

Nasdaq has acquired content and analytics provider eVestment for $705 million.

The acquisition is expected to provide positive returns on capital, as well as enhance Nasdaq's Global Information Services business by allowing the stock exchange to broaden its reach into the buy side.

The deal is expected to close in Q4 2017.

eVestment provides a database for both traditional and alternative strategies, including up to 2,800 individual data points on more than 74,000 investment vehicles. The content and analytics provider has more than 2,000 clients.

Nasdaq's data and index operations, coupled with eVestment's institutional focus, will result in the creation of new solutions and expanded distribution to support asset management firms, according to the stock exchange.

Adena Friedman, president and CEO of Nasdaq, said: "The strategic alignment of eVestment with Nasdaq's complementary technology and services to the global institutional investment industry … will further expand our buy-side relationships, accelerate our growth opportunities, and advance our objectives to deliver proprietary analytics to our clients."

Jim Minnick, CEO and co-founder of eVestment, commented: "Our leadership team is excited to join Nasdaq.”

“We believe the combined organisation will allow us to grow our core business while tapping into Nasdaq's technology expertise, leading data and software products, and global distribution.”

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Ten-year T2S saga comes to an end
19 September 2017 | Brussels | Reporter: Stephanie Palmer
The Target2-Securities pan-European harmonised settlement platform is finally fully operational, as the Spanish and Baltic markets completed their migration yesterday
SS&C on point with launch of Precision LM 3.0
19 September 2017 | Windsor | Reporter: Theo Andrew
With improvements spanning across the loan production, servicing and technology functions, the Precision LM 3.0 upgrade also includes expandable web services, helping to improve operational efficiency
Linedata and DTCC keep partnership going
19 September 2017 | London | Reporter: Jenna Lomax
The new updated programme, Extensible Markup Language allows Linedata clients to match transactions across extended asset classes, and enables trade processing on one platform
PwC promotes into leadership roles
19 September 2017 | London | Reporter: Theo Andrew
Elizabeth Stone will be responsible for working with asset and wealth management clients across audit, tax, advisory, deals and legal services across the UK
Euroclear-DTCC and Lombard Risk link collateral management programmes
18 September 2017 | London | Reporter: Jenna Lomax
Lombard Risk has partnered its Colline solution with DTCC and Euroclear's GlobalCollateral margin transit utility (MTU) programme
Sanne backed as fund administrator by Central Bank of Ireland
18 September 2017 | Dublin | Reporter: Theo Andrew
Under Section 10 of the Investment Intermediaries Act, Sanne will now be able to provide services to Irish authorised collective investment schemes and alternative investment managers
New COO joins Calastone
18 September 2017 | London | Reporter: Theo Andrew
Stephen Mohan joins from DST Systems, formerly IFDS, where he was most recently executive director of transformation and innovation
More news