8 Mar 2018 07:00
Embargoed: Not for release before 7am March 8, 2018
EUROMONEY INSTITUTIONAL INVESTOR PLC
ACQUISITION OF EXTEL
March 8, 2018
Euromoney adds to its Institutional Investor Research portfolio with the acquisition of Extel
Euromoney Institutional Investor PLC ("Euromoney"), the international business information and events group, today announces that it has acquired 100% of the business and assets of Extel from WeConvene. Extel will be integrated into Euromoney's Institutional Investor Research business which is well known for its sell-side analyst and corporate IR performance research and rankings, and strengthens further Institutional Investor's asset management offering.
Extel runs the annual independent survey of quality across the European equities investment community. The Extel Survey began in 1974 and in 2017 over 15,500 investment professionals cast 1.1 million votes across the investment industry, providing an unparalleled dataset to help clients analyse and drive their market understanding.
The acquisition of Extel fits within Euromoney's strategy of investing in its main themes, specifically asset management. Extel is deeply embedded in the equities investment community and its complementary data sets and highly valued analytics and insights will support the transition of Institutional Investor to a next generation 3.0 business model.
Will Rowlands-Rees, MD of Institutional Investor Research, 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."
Ends
For further information, please contact:
Euromoney Institutional Investor PLC
Colin Jones, Finance Director: +44 20 7779 8666; cjones@euromoneyplc.com
FTI Consulting
Charles Palmer/Emma Hall: +44 20 3727 1400; euromoney@fticonsulting.com
About Euromoney Institutional Investor PLC
Euromoney Institutional Investor PLC (www.euromoneyplc.com) is listed on the London Stock Exchange and is a member of the FTSE 250 share index. It is an international business information group covering asset management, price discovery, data & market intelligence, and banking & finance under brands including Euromoney, Institutional Investor, BCA Research, Ned Davis Research and Metal Bulletin. The group also runs an extensive portfolio of events for the telecoms, financial and commodities markets.