Broadridge Financial Services has acquired money management data and intelligence firm Spence Johnson.
Terms of the deal were not disclosed. A Spence Johnson spokeswoman confirmed the deal closed Tuesday and that 100% of the firm will be acquired by Broadridge.
The acquisition will bring together Spence Johnson's institutional data, market intelligence and insight with Broadridge's retail data and analytics, said a news release Tuesday.
Spence Johnson tracks more than $7 trillion of institutional flows through its Money in Motion product, while Broadridge's Global Money Intelligence strategy analyses more than 82,000 mutual funds and exchange-traded funds globally.
"Combining Broadridge's and Spence Johnson's powerful data and analytics solutions will position Broadridge to provide our clients the ability to perform complete cross-channel analysis, enabling unique geographic, market and product views," said Stephanie Clarke, senior vice president of Broadridge's Global Market Intelligence business, in the release. "The ability to measure and benchmark the market by geography, channel and product will be a significant advancement in asset management industry data, analytics and insight."
Magnus Spence, co-founder and CEO of Spence Johnson, said in the same release that the "combined data and analytics will better enable us to provide our clients with the data and insights needed to identify growth opportunities."
The Spence Johnson spokeswoman said, "We do not expect any staff reductions at Broadridge or Spence Johnson as a result of the completion of this acquisition."
Further details could not be learned by press time. A Spokesman for Broadridge was not immediately available to comment.