Financial Data Firm Ipreo Buys Discovery Data

Financial services sector data and market intelligence specialist Ipreo has acquired its competitor Discovery Data, which provides information about firms and professionals across the industry. Terms of the deal were not disclosed.

Discovery Data offers a database which includes 34,000 firms and more than two million professionals, and says the tool is used by over 300 institutions to assist with sales, marketing, data management and analytics.

Ipreo's own 'Bigdough' dataset comprises detailed profiles and ownership information on over 135,000 institutional contacts, 50,000 firms, and 125,000 funds across all asset classes and regions of the world.

Ipreo CEO Scott Ganeles says the buy represents a strategic expansion of one of the firm's core competencies: 'accurate and comprehensive firm and people data.' He adds: 'As we have continued to raise the bar on institutional data to capital markets and corporate professionals, so has Discovery Data led the industry in financial services data to broker-dealers and the buy side, making our offerings naturally complementary.'

As a result of the acquisition, Discovery Data CEO Bob Herrmann will join Ipreo's Executive Committee and run the Asset & Wealth Management division of the combined company.

Web sites: www.ipreo.com and www.discoveryco.com .