Nasdaq will acquire eVestment, a content and analytics provider used by asset managers and investment consultants, for $705 million funded through a mix of debt and cash on hand.

According to Nasdaq, eVestment provides investors a database for both traditional and alternative strategies, including 2,800 individual data points on more than 74,000 investment vehicles. eVestment has more than 2,000 clients.

Adena Friedman, president and CEO, Nasdaq, says the purchase will “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, eVestment, adds: “We’ve grown this business at a 12% 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.”

Subject to customary conditions and approvals, Nasdaq says the deal is expected to close in the fourth quarter of 2017.

On the attack

Nasdaq has been busy with another acquisition and investment plans.

In July, Nasdaq said it would acquire Sybenetix, a surveillance provider that uses behavioural analytics and cognitive computing.

While in April, Nasdaq unveiled its venture investment programme, Nasdaq Ventures, as it seeks out new fintech firms to work with in the global capital markets.

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Deadline for submitting the nominations has been extended to 8 September 2017.