US exchange operator Nasdaq has completed the acquisition of eVestment, a content and analytics provider used by asset managers, investment consultants and asset owners.
The $705m acquisition, which was first announced in September 2017, has received all customary approvals.
eVestment has a client base of over 2,000 that includes 92% of the top asset managers, 76% of top consulting firms and 80% of the top 20 pension funds.
The deal will broaden Nasdaq’s reach into the buy-side and leverage the extensive expertise of the leadership team.
Nasdaq said that its data and index operations, coupled with eVestment’s institutional focus, will result in the creation of “new solutions and expanded distribution to support the asset management community.”