Trading technology suppler Iress has acquired market data provider QuantHouse for a total consideration of EUR38.9 million, subject to a two-year earnout proviso.
QuantHouse operates internationally, with a focus on Europe, North America and Asia, providing more than 145 data feeds from exchanges and other data providers to clients globally.
Iress CEO Andrew Walsh says: “The provision of accurate, timely and cost-effective market data through our software and to a range of clients is an important part of Iress’ current and future business and our growth strategy.
“Importantly, the acquisition will expand Iress’ offering to clients globally. In particular, the acquisition will allow Iress to provide clients with real-time access to additional services, including international exchanges, with global MSCI coverage increasing from 52% to 75%. It will also meet client demand for increased channels for data beyond desktops.”
QuantHouse is being sold by its co-founder and chief executive Pierre Feligioni. The business will continue to be led by Feligioni.