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Euromoney Institutional Investor acquires WealthEngine for $14.5m
StockMarketWire.com
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Information services provider Euromoney Institutional Investor said it had acquired WealthEngine for $14.5 million.
WealthEngine, a SaaS platform, provided data-driven intelligence and predictive analytics to wealth managers, luxury brands and not-for-profit organisations. 'This highly complementary acquisition is expected to enhance the operating profit margin of People Intelligence and deliver accelerated growth over the medium-term,' the company said.
'As a result, the acquisition is expected to be earnings accretive for Euromoney and deliver ROI above WACC in the current financial year,' it added.
Story provided by StockMarketWire.com
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