Institutional Shareholder Services Inc. acquired Incentive Lab LLC, an executive compensation data and analytics firm, the two companies announced Thursday in a joint statement.
Terms were not disclosed. The acquisition closed Wednesday.
ISS bought the firm to bolster executive pay data and analytics for asset owner and other institutional investor clients as well as corporate clients of the ISS Corporate Services Inc. unit, the statement said.
ISS plans to keep Incentive Lab operations in Scottsdale, Ariz., but the branding or how the firm's leadership and employees will be integrated into ISS couldn't be learned.
J. Carr Bettis, Incentive Lab founder, chairman and chief scientist, is listed as the owner of Incentive Lab on the website of W.P. Carey School of Business, Arizona State University, where he is research professor of finance. Mr. Bettis couldn't be reached for comment.
The acquisition is part of ISS' effort to “provide innovative solutions that will improve investment decision-making while mitigating portfolio governance risk,” Gary Retelny, ISS president and CEO, said in the statement.
