Nasdaq, Inc., the operator of a key stock exchange in the United States, announced on Monday the acquisition of Solovis, a provider of multi-asset class portfolio management solutions, for an undisclosed sum.
With this will offer Solovis’ solutions through Nasdaq’s eVestment group, broadening the financial market giant’s in the area with capabilities with portfolio analysis and monitoring for institutional investors and consultants.
Per the announcement, the deal was made given Nasdaq’s as a technology and analytics provider to , as well as its capital deployment and return on investment capital objectives.
Commenting on the acquisition, Lauren Dillard, executive vice president and head of Nasdaq’s global information services group, said: “Nasdaq’s mission is to provide transparency and data to the financial world, all through modern technology. The combination of eVestment and Solovis bolsters our capabilities to serve the investment community. Together, they create a global leader of proprietary content, insights and portfolio analytics.”
Business as usual
Headquartered in Texas, Solovis offers a cloud-based platform for multi-asset class portfolio management, reporting, and analytics.
The stock exchange operator also detailed that its einvestment platform has over 600 institutional clients, all of whom will be able to access Solovis’ solutions.
“We founded Solovis on the commitment to help asset allocators make better investment decisions through robust data and analytics,” Solovis co-founder and CEO Josh Smith, added.
“Our mission aligns seamlessly with eVestment’s and makes us well-positioned to capture the opportunities inherent in the evolving global markets landscape. We are excited to join the Nasdaq family through this acquisition.”
Though the terms of the deal were not disclosed in public, the entire team of Solovis including its co-founders will continue to operate from their base in Dallas, Charlottesville, and San Francisco.
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