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Euromoney Institutional Investor has acquired saas platform WealthEngine for $14.5 million.
WealthEngine is a workflow tool which profiles US individuals and is used by clients for prospecting potential customers.
This acquisition has been made to complement Euromoney's People Intelligence business which already includes Wealth-X and BoardEx.
It is expected to be earnings accretive for Euromoney and deliver ROI above WACC in the current financial year.
At 2:18pm: (LON:ERM) Euromoney Institutional Investor PLC share price was 0p at 966p