Nasdaq Inc. said Tuesday it will buy content and analytics company eVestment for $705 million. Nasdaq said it will fund the deal, which is expected to close in the fourth quarter, through a mix of cash on hand and debt. The company said eVestment has more than 2,000 clients, including 92% of the top asset managers. “As a trusted steward of the capital markets industry, we view our partnership with eVestment as a means of strengthening Nasdaq’s support of the investment management industry through enhanced technology and service offerings,” said Nasdaq Chief Executive Adena Friedman. Nasdaq’s stock, which was inactive in premarket trade, has climbed 12.3% year to date, while the S&P 500 has gained 10.6%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News