FE fundinfo has acquired Denmark-based fund data and technology company FundConnect for an undisclosed sum.
Established in 2000, the acquired entity collects and distributes fund data across Europe with focus on advanced data collection, data distribution, web solutions and fund document production.
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The firm serves Danish mutual fund industry, which consists of both local fund groups and international funds operating in Denmark.
FundConnect also supports a number of industry initiatives, including European Fund Classification (EFC).
The deal will add FundConnect’s services in the Nordic fund industry to FE fundinfo’s fund data and technology expertise in the UK, Europe and Asia.
FE fundinfo already has a number of shared clients who are domestically supported by FundConnect. In turn, FundConnect’s international operations are supported by FE fundinfo in Luxembourg.
Commenting on the deal, FE fundinfo chief executive Hamish Purdey said: “We share a similar philosophy with FundConnect in aiming to improve standardisation across the global fund data landscape and help our clients access and distribute their fund data and documents in a streamlined manner.”
FundConnect CEO Carsten Mahler added: “We’re delighted to be joining the FE fundinfo family and play an active part the business’ vision to create a Pan-European fund data and technology champion.
“This transaction enables us to offer a broader and deeper fund data universe to our clients and continue to drive the agenda for standardisation and efficiency in the collection and distribution of fund data.”
Last month, FE fundinfo signed an ESG data agreement with MSCI to improve its ESG capabilities.
