Data distribution provider FE fundinfo has acquired Danish fund data and technology house FundConnect.
The deal brings together FE fundinfo’s fund data and technology expertise in the UK, Europe & Asia with FundConnect’s complementary set of services for the Nordic fund industry.
Founded in Copenhagen in 2000, FundConnect collects and distributes fund data across Europe specialising in advanced data collection, data distribution, web services and marketing and regulatory document production.
FundConnect, together with the Danish Investment Association jointly owns FundCollect, which serves the entire Danish mutual fund industry; both Danish fund groups and international funds operating in Denmark. The company also supports a number of industry initiatives such as the European Fund Classification (EFC) by the European Fund and Asset Management Association (EFAMA).
The two companies already share a number of clients, who will be supported by a broader set of integrated cross-border services post-merger.
The deal follows a period of rapid growth for FE fundinfo with the acquisition of Lichtenstein based ESG specialists CSSP at the end of 2020 and an uptick of recruitment of commercial staff in continental Europe throughout the first half of 2021.
Carsten Mahler, CEO at FundConnect, says: “Our expertise in data automation and technology solutions complement the offerings provided by FE fundinfo and allow us to support our global client base in streamlining their businesses and remaining compliant in an increasingly complex regulatory landscape.”
Fionancial terms were not disclosed.