Proxy voting and corporate government advisory firm Institutional Shareholder Services announced the acquisition of iiWisdom's interactive governance solutions business.
The interactive governance platform allows institutional investors to access the governance information of certain public companies.
Terms of the deal or an expected closing date were not disclosed.
“We are delighted to pass the baton to ISS and are confident they will continue to provide state of the art communications solutions to iiWisdom clients,” said David Weil, founder and CEO of iiWisdom, in a news release from ISS.
ISS plans to further develop iiWisdom's offerings to include thought leadership in global governance and responsible investment topics.
“Proxy reports are an increasingly important tool for communicating company governance practices and fostering dialogue,” said Stephen Harvey, chief operating officer of ISS, in the news release. “The provision of these reports in a format consistent with investor workflows allows for better communication between companies and their institutional investors and fits naturally into our mission to provide high-quality interactive data aimed at facilitating dialogue and empowering investors in their decision-making.”
Spokesmen at ISS and iiWisdom could not be reached for comment by press time.