Fund manager data service FE fundinfo is to acquire Fundsquare and open a centre of excellence for regulatory reporting in Luxembourg.
The acquisition was announced by the Luxembourg Stock Exchange (LuxSE), the parent company of Fundsquare, which will become an investor in FE fundinfo.
“The combination of Fundsquare’s and FE fundinfo’s services is a unique opportunity to combine two complementary businesses and create a pan-European champion in fund data, reporting and infrastructure,” LuxSE said in a statement published on 24 February.
Founded in 2013 to carry out cross-border fund distribution by collecting and distributing data and information, Fundsquare counts a 65-strong workforce at the LuxSE offices.
FE fundinfo is an independent provider of fund data and technology expertise for fund managers, fund distributors and financial advisors. It has over 900 staff working in Luxembourg, the UK, Europe, Asia and Australia. According to the press release, this strategic acquisition will further support its clients and help the firm expand its reach.
The press statement adds: “The acquisition further provides an opportunity for LuxSE and FE fundinfo to explore joint opportunities in ESG-related products and services, leveraging LuxSE’s experience in this domain and FE fundinfo’s own ESG capabilities from its CSSP acquisition.”
