Reuters to Acquire European Fund Research Specialist
LONDON – Reuters (LSE: RTR; NASDAQ: RTRSY) today announced that it has entered into an agreement to acquire Feri Fund Market Information Ltd (FERI FMI) and its fund database subsidiary, FI Datenservice GmbH (FID), from Feri Rating and Research GmbH, subject to the final approval of the German Federal Cartel Office. At the same time, Feri Rating and Research announced the expansion of its international rating activities on the basis of an extended database to be delivered by Lipper, Reuters specialist fund subsidiary.
London-based Feri Fund Market Information Ltd specialises in mutual fund analysis and research in the European domestic and cross-border fund markets. FID’s Investbase product is a leading source of mutual fund data and analytical tools in German-speaking markets. The value of the gross assets to be acquired in this transaction is €3 million (as at 30 April 2007). The businesses once acquired will be combined within Lipper.
The acquisition is part of Reuters core growth strategy for Lipper to deliver high value content and insight alongside its current fund research and analysis. As part of this agreement, Lipper will also become the primary supplier of investment fund data to Feri Finance AG, allowing its Rating & Research division to expand its services internationally in line with its strategic growth plans.
Michael Peace, Reuters Global Head of Research & Asset Management and CEO of Lipper, said: “The Feri FMI team and businesses are a great addition to Lipper’s global funds operation and will play a key part in delivering real insight to the funds industry. The fit is great; bringing Reuters and Lipper’s distribution together with the skills, relationships and expertise of the FMI team. Customers will also benefit from the combined operation, particularly those in German-speaking markets.”
Helmut Knepel, CEO of Feri Rating and Research said: “The ability to draw upon Lipper’s global data collection expertise will enable Feri to enlarge its fund rating and fund research business first on a pan-European and then on a fully international basis. Feri’s fund rating activities require two ingredients; high quality fund data and broad expertise in qualitative fund analysis. By working with Lipper we know we are securing the former, allowing us to focus even more strongly on broadening and deepening the leading-edge analysis services we offer.”
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