On Tuesday, September 5, Nasdaq announced that it will acquire eVestment. The acquisition is expected to deliver attractive shareholder returns with a combination of recurring, predictable revenue, a strong track record of growth and attractive cash flow dynamics.
The announcement was noted in media outlets around the world, including The Financial Times, The Wall Street Journal, Institutional Investor magazine, Funds Europe, Asia Asset Management and The Atlanta Business Chronicle.
The planned acquisition offers a variety of opportunities for Nasdaq, eVestment and the clients of both firms.
“The investment management community is relying increasingly on independent data and advanced analytics to drive their key business decisions, including asset allocation and investment choices. eVestment is the definitive source from asset managers of critical fund-level and investment-level data and analytics to enable asset owners to make informed decisions,” said Adena Friedman, President and CEO, Nasdaq. “The strategic alignment of eVestment with Nasdaq’s complementary technology and services to the global institutional investment industry, including our surveillance technology, SMARTS, our recent Analytics Hub launch, as well as our long standing operation of the Mutual Fund Quotation Service, will further expand our buy side relationships, accelerate our growth opportunities, and advance our objectives to deliver proprietary analytics to our clients.”
eVestment will further enhance Nasdaq’s robust Global Information Services business by allowing the company to broaden its reach into the buy-side and leverage the extensive expertise of the leadership team. 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 the asset management community.
“Our leadership team is excited to join Nasdaq. We believe the combined organization will allow us to grow our core business while tapping into Nasdaq’s technology expertise, leading data and software products, and global distribution,” said Jim Minnick, Chief Executive Officer and Co-founder, eVestment. “We’ve grown this business at a 13% annual growth rate since 2013, and together, we expect to produce new and expanded opportunities for our clients by combining our proprietary capabilities with Nasdaq’s core information services offerings.”
To read the full press release about the planned acquisition, please click here.
To read more about how Nasdaq views the planned acquisition as a strategic move for the company, please click here.