Financial Services Industry Data Leaders Unite to Provide World Class Services
Ipreo, a global leader of data, market intelligence and productivity solutions to capital markets and corporate professionals, today announced its acquisition of Discovery Data, a leading financial services industry provider of data on firms and professionals, and a recognized expert in CRM data hygiene.
Discovery Data offers the only database with a single consolidated view of the financial services industry, including 34,000 firms and over 2 million professionals. Access to Discovery Data is provided via a web application and by data feed, and is utilized by over 300 institutions and thousands of professionals to assist with sales, marketing, recruiting, data management and analytics. Discovery Data clients include many of the largest, most successful and fastest growing asset managers, broker-dealers, insurance companies and service providers.
Ipreo's Bigdough dataset - delivered through several CRM and investor prospecting applications catering to the capital markets workflow - is comprised of detailed profiles and comprehensive ownership information on over 135,000 institutional contacts, 50,000 buy- and sell-side firms, and 125,000 funds, across all asset classes and regions of the world.
The combination of Discovery Data and Ipreo will result in the most robust dataset of firms and individuals covering both the retail and institutional markets.
"The acquisition of Discovery Data represents a strategic expansion of one of our core competencies: accurate and comprehensive firm and people data," stated Scott Ganeles, CEO of Ipreo. "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."
It's expected that the depth and scope of Ipreo's resources, as well as its financial strength, will bring long-term benefits to Discovery Data clients.
"We are pleased to join an organization with Ipreo's global scale, strong financial backing, and deep expertise in delivering high quality data solutions," stated Bob Herrmann, CEO of Discovery Data. He added, "We've accomplished a great deal in the last few years, but there is so much more we want to do and value we can bring to our clients having these resources at our disposal. Ipreo has the tools, technology and financial resources to accelerate our plans to add to the value we are already providing clients and to help us grow."
Ipreo's Research Sales & Trading clients will benefit from seamless access to a greater breadth of content across the financial markets and different sources of capital, extending their visibility into their core client base. Ipreo's Corporate IR clients will be able to more effectively target and manage outreach to retail investors by tapping into comprehensive information on registered investment advisors, brokers, and wealth managers.
"Discovery Data's commitment to data quality, as well as their reputation for outstanding client service, makes them a natural fit with Ipreo's culture of excellence," stated Kevin Marcus, President and COO of Ipreo. "We look forward to working together to bring industry-leading data solutions to our clients across all markets."
Discovery Data CEO Bob Herrmann will join Ipreo's Executive Committee and run the Asset & Wealth Management division of the combined company.