Global proxy advisory firm Institutional Shareholder Services Inc. (ISS) is buying Ethix SRI Advisors AB, a Stockholm-based research firm that specializes in socially responsible investment (SRI), the companies announced on Tuesday.
Financial terms of the deal were not disclosed.
Ethix, which was founded in 1999, will be rebranded as ISS-Ethix in the wake of the deal. It advises global asset owners and investment managers that represent more than €300 billion ($450 billion) in assets under management (AUM), with research on a range of responsible investment issues, including environmental, human rights, labour standards, corruption and controversial weapons.
“This acquisition is in keeping with our long-standing commitment to expand our product offerings, provide innovative solutions, and deliver the highest levels of service to our clients across the globe,” said ISS president & CEO, Gary Retelny. “The addition of Ethix will help our clients navigate the complex and rapidly evolving SRI landscape through cutting-edge technology that is underpinned by world-class ESG data, analytics, and research.”
“With the combination of ISS’ comprehensive governance offerings and Ethix’s deep expertise in environmental and social research and analysis, we are poised to offer our clients a truly integrated solution to meet both the depth and breadth of institutions’ ESG needs,” said Ethix’s managing director and founding partner, Ulrika Hasselgren, who will continue to lead the firm.