Toronto-based financial services industry research firm, Investor Economics Inc. (IEI), is being acquired by New York’s Asset International, Inc., a global provider of business intelligence to the financial industry.
The price on the deal was not disclosed. Investor Economics, which will become a part of Asset International’s strategic insight division, will continue to be run by its founder and CEO, Earl Bederman.
“Asset International’s passion about data, close customer relationships, and global resources will expand our capabilities to serve clients,” said Bederman, adding that it plans to offer products, technology, and expertise from Strategic Insight to its Canadian clients, and that IEI’s research will be incorporated into Strategic Insight’s global services.
“Retaining the founders and their teams has been a core acquisition strategy for Asset International in the seven acquisitions we have made. It helps ensure we keep the entrepreneurial spirit and, most importantly, the close relationship to customers established over many years,” noted Jim Casella, Asset International’s CEO.
“Investor Economics allows us to have an unparalleled offering for asset management business intelligence throughout all of North America and extends our service platforms into adjacent sectors such as insurance and wealth management,” he added.
Casella noted that Asset International will look for additional acquisitions of specialized information providers to the asset management and other financial services industries worldwide.