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Nasdaq to buy content and analytics company eVestment for US$705mln

eVestment has more than 2,000 clients, including 92% of the top asset managers, the exchange operator said

NASDAQ
eVestment is expected to boost Nasdaq’s market data services business

Nasdaq Inc. (NYSE:NDAQ) announced on Tuesday that it will acquire content and analytics company eVestment for US$705mln in a bid to extend its reach to buy-side clients.

The deal, which is expected to close in the fourth quarter, will be funded through a mix of cash on hand and debt.

eVestment has more than 2,000 clients, including 92% of the top asset managers, the exchange operator said.

Acquisition to enhance Nasdaq's technology and servce offerings

The company uses cloud-based services to help institutional investors to monitor market trends and make investment decisions. This service is expected to boost Nasdaq’s market data services business.

"As a trusted steward of the capital markets industry, we view our partnership with eVestment as a means of strengthening Nasdaq's support of the investment management industry through enhanced technology and service offerings," said Nasdaq's chief executive Adena Friedman.

Quick facts: NASDAQ OMX Group, Inc.

Price: 115.82 USD

NASDAQ:NDAQ
Market: NASDAQ
Market Cap: $18.98 billion
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