(Sharecast News) - Euromoney Institutional Investor has announced the acquisition of WealthEngine, a US SaaS platform providing data-driven intelligence and predictive analytics to wealth managers, luxury brands and not-for-profit organisations, for $14.5m.
WealthEngine is a workflow tool which profiles US individuals and is used by its clients for prospecting potential donors or customers. Revenues are derived predominantly from subscriptions, which attract high renewal levels, Euromoney said.
It said the deal - expected to be immediately earnings-enhancing - adds scale to its People Intelligence business, which now comprises WealthEngine, Wealth-X and BoardEx.
"WealthEngine is complementary to the recently acquired Wealth-X, whose database provides comprehensive profiles for more in-depth screening of, and intelligence on, high and ultra-high-net-worth individuals," the company said.
James Lavell, chief executive officer of People Intelligence at Euromoney, said: "The acquisition of WealthEngine is a great addition to the group and supports our strategy by adding further scale to our 3.0 People Intelligence business. It brings leading technology, workflow solutions and must‐have data, which, when combined with Wealth-X and BoardEx, will enhance significantly the value we provide customers."
21 Nov 2022 14:09
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