FE fundinfo, a provider of investment fund data and technology, has concluded the purchase of Fundsquare from Luxembourg Stock Exchange (LuxSE).
Founded by LuxSE in 2013, Fundsquare offers fund registration and regulatory services to asset managers, fund distributors and financial advisers.
Financial details of the deal, which was announced in February this year, were not disclosed.
The newly closed deal will help FE fundinfo to set up an entity in Luxembourg with more than 100 fund and regulatory specialists.
The merged entity will employ over 1,000 people across the UK, Europe, Asia and Australia.
In a statement, FE fundinfo said: “Together the companies connect two core elements of the fund industry value chain – the registration and fund distribution processes – which uniquely provide the capability to consolidate data management, product registration, client reporting, regulatory reporting and dissemination on one open architecture platform.
“This streamlining of the fund lifecycle delivers lower operational and regulatory risk, increased efficiencies, and provides unprecedented flexibility and scale in the distribution of funds.”
In August last year, FE fundinfo bought Denmark-based fund data and technology company Fundconnect to strengthen its presence in Nordic.