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Money Management

AllianceBernstein to acquire Autonomous Research

M&A Merger And Acquisitions written on a notepad with marker.

AllianceBernstein (AB) announced Tuesday that it will acquire Autonomous Research, which provides research on global financial services and financial technology companies.

AB will add Autonomous Research to its Bernstein Research Services unit, which provides institutional equity research and trading, the company said in a news release.

Andrea Prochniak, an AB spokeswoman, did not respond to a call seeking more information about the acquisition, including terms of the deal.

The deal is expected to close within the next few months, the news release said, noting that Autonomous Research and Bernstein Research Services will retain their current structures and, initially, their "distinct brand identity."

"The combination of Autonomous and Bernstein positions AB to be the pre-eminent provider of the industry's highest quality independent research to our clients worldwide," said Seth P. Bernstein, AB's president and CEO, in the release.

On the money management side of its business, AB managed $530 billion as of Oct. 31.