Bloomberg L.P. is to acquire Barclays Risk Analytics and Index Solutions Ltd. (“BRAIS”) for around £520 million.
BRAIS is a provider of benchmark and strategy indices, portfolio analytics, risk and attribution models, and portfolio construction tools. BRAIS’s benchmark indices span global markets covering multiple asset classes, most notably the Barclays Family of Aggregate Bond Indices.
“As financial markets continue to evolve, our clients need and expect the index business to evolve too,” said Michael R. Bloomberg. “Combining the market-leading Barclays indices and their superb team with our data management, analytics and distribution will provide more independence, liquidity and transparency to the marketplace, improve industry innovation and further meet the diverse needs of our global client base.”
Bloomberg has also increased its investments in PORT, the company’s multi-asset portfolio risk and analytics tool that has seen significant growth over the past five years. The Company intends to accelerate its investments in this area by acquiring the intellectual property in POINT, Barclays’ portfolio analytics solution, and incorporating BRAIS IP into PORT. Barclays has agreed to continue to operate POINT for 18 months post completion in order to help clients transition to PORT.
Bloomberg and Barclays will maintain a co-branding arrangement on the benchmark indices for an initial term of five years.
The transaction is expected to be completed by mid-2016.
USA, New York, NY & UK, London
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