Global Custodian’s parent company Asset International has acquired financial data specialist Market Metrics and Matrix Solutions.
It acquired Market Metrics and Matrix Solutions, which provide data and research for advisor-sold investment and insurance products, from financial information and analytics specialist FactSet.
The deal extends Asset International’s portfolio of proprietary data covering the asset management and insurance industries and provides a new delivery model from C-level face-to-face meetings to mobile analytics platforms.
Boston-headquartered Market Metrics was founded in 1993 and has provided consulting and data for mutual funds, variable annuities, asset managers and insurance companies in both the US and Europe.
Commenting on the acquisition, Joel Mandelbaum, CEO of Asset International, said: “This acquisition is a fantastic opportunity to realise our ambition of creating the go-to supplier for the asset management community. The combination of Asset International and Market Metrics and Matrix Solutions represents an excellent fit for our clients and employees, and we are delighted to be joining forces.”
The deal is expected to close within 45 days.