MSCI, a research-based indexes and analytics provider, has agreed to purchase Insignis, a data collection and aggregation service for the financial industry.
As part of the deal, MSCI will leverage Insignis’ technology in its InvestorForce product line and will expand its use to further automate the collection and integration of data across its risk and performance management platforms, which serves over 1,200 clients globally.
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Subject to customary closing conditions, the transaction is scheduled to complete in the fourth quarter of 2015.
MSCI said that the deal, whose financial terms have not been disclosed, will not have a material impact on MSCI’s financial results.
Pursuant to the acquisition, revenues attributable to Insignis will be included in MSCI’s Analytics products category.
Insignis offers daily automated collection, aggregation and management of financial data, including data on positions, transactions and complex instruments. The firm currently collects data from 35 custodians, 15 futures brokers and 20 OTC managers with over $2 trillion in market value.
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By GlobalDataMSCI managing director and global head of analytics Peter Zangari said: "This acquisition further strengthens our industry-leading position in analytics and demonstrates our commitment to providing a superior end-to-end solution for clients."
MSCI managing director Jim Morrissey said: "Clients are looking to MSCI to help them address the ever-growing challenges of collecting, normalizing and reconciling complex data for performance and risk reporting.
"This acquisition is an example of how we are focused on improving the entire data value chain for clients – from data aggregation to delivery of accurate, high quality analytics."
