MSCI to acquire InvestorForce for $23.5 million
By Rob Kozlowski | January 23, 2013 2:51 pm
MSCI Inc. has agreed to acquire performance measurement and reporting software firm InvestorForce Inc. from Internet Capital Group, confirmed MSCI spokeswoman Kristin Meza.
The transaction is expected to close by the end of the first quarter. The purchase for $23.5 million is subject to a final working capital adjustment and will be funded by existing cash.
“We believe the combination of MSCI and InvestorForce presents a unique opportunity to strengthen the network between asset owners, investment consultants and managers around the world,” said Henry Fernandez, MSCI chairman and CEO, in a joint news release.
The InvestorForce platform is used by investment consultants to report on more than $3.5 trillion in assets under advisement, according to the news release.