NMG Invests in Data Science Firm Boobook

Global financial services advisory and intermediary firm NMG has acquired a minority stake in Belgian-based advanced analytics company Boobook. The latter will remain independent, with founder and MD Nicole Huyghe at the helm, but gain from NMG's global network and infrastructure.

Boobook was established in 2002 as solutions-2, and offers 'advanced analytics and smart online reporting, employing thirteen data scientists and support personnel. Its new investor is the owner of investment, insurance and reinsurance specialist NMG Consulting, and the majority owner of Southern African-based NMG Benefits, and UK telematics insurance firm iGO4. The deal will allow NMG to provide access to Boobook's services to the financial services market, including clients in the insurance, employee benefits and investment fields.

Geoff Baars, Group Executive Director at NMG, says the collaboration will move his group 'five years ahead in terms of its capabilities in data analytics'. Huyghe adds: 'In our discussions with NMG, it soon became clear that we shared common values, which was an important factor in the decision to welcome NMG as a strategic investor'.

NMG, which was founded in 1992 and originally based in Singapore, now has more than 800 employees in eighteen cities worldwide and a home page at www.nmg-group.com . Boobook (named after a small Australian owl) is online at www.boobook.world .