Nasdaq, Inc., the operator of a key inventory alternate in the USA, introduced on Monday the acquisition of Solovis, a supplier of multi-asset class portfolio administration options, for an undisclosed sum.
With this, Nasdaq will supply Solovis’ options via Nasdaq’s eVestment group, broadening the monetary market big’s within the space with capabilities with portfolio evaluation and monitoring for institutional traders and consultants.
Per the announcement, the deal was made given Nasdaq’s technique to maximise alternatives as a know-how and analytics supplier to capital markets, in addition to its capital deployment and return on funding capital goals.
Commenting on the acquisition, Lauren Dillard, govt vice chairman and head of Nasdaq’s world info companies group, mentioned: “Nasdaq’s mission is to supply transparency and information to the monetary world, all via fashionable know-how. The mix of eVestment and Solovis bolsters our capabilities to serve the funding group. Collectively, they create a worldwide chief of proprietary content material, insights and portfolio analytics.”
Enterprise as ordinary
Headquartered in Texas, Solovis provides a cloud-based platform for multi-asset class portfolio administration, reporting, and analytics.
The inventory alternate operator additionally detailed that its platform has over 600 institutional purchasers, all of whom will have the ability to entry Solovis’ options.
“We based Solovis on the dedication to assist asset allocators make higher funding selections via sturdy information and analytics,” Solovis co-founder and CEO Josh Smith added.
“Our mission aligns seamlessly with eVestment’s and makes us well-positioned to seize the alternatives inherent within the evolving world markets panorama. We’re excited to affix the Nasdaq household via this acquisition.”
Although the phrases of the deal weren’t disclosed in public, the complete group of Solovis, together with its co-founders will proceed to function from their base in Dallas, Charlottesville, and San Francisco.