Business Standard

Nasdaq to buy eVestment for $705 mn


US exchange operator Nasdaq Inc said on Tuesday it would buy investment analytics provide re Vestment Alliance for $705 million to bolster its market technology business and woo more institutio­nal investors. Evestment, whose clients include Morgan Stanley, Google parent Alphabet Inc and Black Rock, provides cloud based services to help investors monitor market trends and make investment decisions. The deal comes amid a wave of acquisitio­n sin the industry as exchange operators seek to boost margin sand reduce their reliance on trading amid weak volume sand stiff competitio­n.

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