Investment research firm CFRA has snapped up ETF data and analytics firm First Bridge Data.

The deal consideration was not revealed.

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The acquisition is said to bolster CFRA’s ETF research suite to include a database of ETF constituent holdings data, reference and classification data, investment analytics, daily pricing, as well as flows and statistics.

Through the takeover, CFRA will also gain access to data visualisation tools of First Bridge.

CFRA head of ETF and mutual fund research Todd Rosenbluth said: “CFRA’s entire approach to ETF ratings and research is distinguished by its focus on holdings-level analysis, so adding First Bridge, with its daily constituent holdings data, to our proprietary suite of offerings will only make our efforts that much stronger.”

As part of the deal, First Bridge founder Aniket Ullal will move to CFRA.

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CFRA CEO Peter de Boer said: “Adding First Bridge’s industry leading ETF data and analytics creates new value for our clients across both the institutional investor and wealth management segments of the market.

“Not only will our ETF ratings and research now be powered by the most complete source of data on the market, but we will also be able to innovate more quickly for our clients in this rapidly growing ETF industry.”

At present, CFRA has operations in New York, London, Hong Kong, Kuala Lumpur, Charlottesville, Denver, and Washington, D.C.

Its client base of more than 2,000 comprises institutional investors, wealth advisers, corporations, and academics.

In 2016, the firm acquired the equity and fund research business of S&P Global Market Intelligence.