Euronmoney - a FTSE 250-listed media group - will integrate Extel into its Institutional Investor Research unit.
Extel runs an annual quality survey across the European equities investment community. First run in 1974, in 2017 15,500 investment professionals cast 1.1 million votes. This provides the community with an "unparalleled dataset to help clients analyse and drive their market understanding."
Institutional Investor Research Managing Director Will Rowland-Rees said: "Although a small business Extel has a strong reputation in the European market, and is highly complementary to our existing Institutional Investor Research offerings. By integrating these businesses, we will create a unique bulge bracket through domestic broker view of research product evaluation in the European market at a time of tremendous market change driven by MiFID II."
"I look forward to leveraging our shared expertise and knowledge, and partners in the investment community to build a stronger and broader set of capabilities across our portfolio of products to help with these challenges," Rowland-Rees added.
Shares in Euromoney were 0.8% higher at