Reuters to Acquire Mutual Fund Research Firm

Reuters has announced plans to buy London-based Feri Fund Market Information (FERI FMI) and its German fund database unit FI Datenservice (FID) from Feri Rating and Research. The terms of the transaction have not been disclosed.

London-based FERI FMI specialises in mutual fund analysis and research in the European domestic and cross-border fund markets. FID's Investbase product is a source of mutual fund data in the German-speaking markets.

The new business will expand its international rating activities and be absorbed into Lipper, Reuter's specialist fund intelligence and analytical tools subsidiary. The company said that Lipper will become the primary supplier of investment fund data to Feri Finance.

Michael Peace, Reuters Global Head of Research & Asset Management and CEO of Lipper, commented: 'The Feri FMI team and businesses are a great addition to Lipper's global funds operation and will play a key part in delivering real insight to the funds industry.'

Helmut Knepel, CEO of Feri Rating and Research added: “The ability to draw upon Lipper's global data collection expertise will enable Feri to enlarge its fund rating and fund research business first on a pan-European and then on a fully international basis.'

Feri Rating & Research is 56.6% owned by German financial adviser MLP, which in a separate statement said it expected pre-tax proceeds from the sale to be 'in the low single-figure million range'. The value of the gross assets to be acquired is €3 million as at April 30, and the deal is subject to the final approval of the German Federal Cartel Office.

The companies are online at: www.feri-fmi.com, www.lipperweb.com and www.reuters.com

Reuters recently bought text analytics firm ClearForest (www.mrweb.com/drno/news6734.htm) and added instant media analysis to its offering through a link-up with Corpora (www.mrweb.com/drno/news6731.htm ).