Resurgens Technology Partners is acquiring performance measurement and reporting software firm InvestorForce Inc. from MSCI Inc., a spokesman said.
Terms of the deal, expected to close within the next three months, were not disclosed. Resurgens will merge InvestorForce with Investment Metrics, its own performance measurement and reporting software company. The combined company will operate under the Investment Metrics name and have institutional investment consulting clients overseeing $10 trillion in assets under advisement using the platform.
"The merger of Investment Metrics and InvestorForce is a logical next step for our clients, employees and the industry," said Sanjoy Chatterjee, founder and president of Investment Metrics, in a joint news release. "We are confident that our expanded unique data offering, paired with the best in class analytics and reporting solutions, will uncover further opportunities and increase efficiencies for our clients. Together, we will further enhance our existing relationships and build new alliances with the industry's leading investment consultants, wealth managers, asset owners, trusts, OCIOs and players within the alternatives space."
MSCI acquired InvestorForce Inc. from Internet Capital Group in the first quarter of 2013 for $23.5 million.
Currently the Investment Metrics and InvestorForce platforms are used by consultants to report on $6.5 trillion and $3.5 trillion, respectively, in assets under advisement.