New York City-Based Ipreo acquired Discovery Data, another data firm based in New York City. Private equity titan KKR currently owns Ipreo, which markets productivity and intelligence solutions to corporate professionals and capital markets. Discovery Data, on the other hand, provides clients market data on financial industry firms and professionals.
CEO of Discovery Data Bob Herrmann will now be a part of Ipreo's Executive Committee. Mr. Herrman will operate the Asset & Wealth Management department of the firm. "We are pleased to join an organization with Ipreo's global scale, strong financial backing, and deep expertise in delivering high-quality data solutions," Herrmann said.
Ipreo, a global leader of data, announced the acquisition of Discovery Data yesterday. Financial details of the transaction were not disclosed.
"The acquisition of Discovery Data represents a strategic expansion of one of our core competencies: accurate and comprehensive firm and people data. As we have continued to raise the bar on institutional data to capital markets and corporate professionals, so has Discovery Data led the industry in financial services data to broker-dealers and the buy side, making our offerings naturally complementary," said Ipreo chief executive, Scott Ganeles said.
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