San Francisco's Vestek has acquired London-based quantitative investment specialist Quantec for an undisclosed sum.
The combination of Vestek's backtesting, portfolio construction and performance attribution systems with Quantec's risk management and asset allocation capabilities will create a well-rounded supplier of advanced investment decision support services, the company claims.
Vestek, a Thomson Financial company, says it will use the acqusition as a platform to expand its presence in European capital markets.
Scott Douglas, managing director of Vestek Europe, says: "Through the acquisition of Quantec, Vestek, itself a leader in portfolio analytics, gains one of the leading innovators in this critically influential area of portfolio management."