LONDON (dpa-AFX) - Euromoney Institutional Investor Plc (ERM.L), a B2B information services provider, announced the acquisition of WealthEngine, Inc. for $14.5 million.
The acquisition is expected to be earnings accretive for Euromoney and deliver ROI above WACC in the current financial year.
WealthEngine is a SaaS platform providing data-driven intelligence and predictive analytics to wealth managers, luxury brands and not-for-profit organisations.
The company said the acquisition of this 3.0 business adds scale to its People Intelligence business, which now comprises WealthEngine, Wealth-X and BoardEx.
Euromoney said WealthEngine is complementary to the recently acquired Wealth-X. The company said it now has full coverage across the wealth intelligence value chain, which is a growing information-services market.
The highly complementary acquisition is expected to enhance the operating profit margin of People Intelligence and deliver accelerated growth over the medium-term.
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