Asset International, parent company of The TRADE, has acquired asset management data specialist Financial Webworks (FWW).
The deal significantly enhances the firm’s data and business intelligence capabilities globally.
FWW offers a suite of services to distributors, including Fund Data, FundListing, FundStars and more. Its tools are designed to help investors and their advisers make investment decisions through transparent and up-to-date fund information.
Traditionally, FWW has been focused on the German market, but the deal will expand its client base around the world as well as providing Asset International’s other products access to a significant German client base.
FWW will operate as an independent unit based in Munich under the leadership of joint managing directors Matthias Rothe and Marc Bonnet. It will report to John Lee, managing director of Europe for Asset International, who is also responsible for the recent LiquidMetrix acquisition.
Commenting on the deal, Lee said: “FWW is the market leader for fund data in Germany with deeply-embedded customer relationships.
“We will continue to support and drive strong growth in its fund listing business, at the same time as expanding the breadth of FWW’s services to offer its customers access to AI’s full range of analytical tools.”
Tony Salewski, managing director of Genstar, Asset International’s financial backer, added: “Regulatory fundamentals underpin demand for FWW’s core products. That, along with attractive growth in the German mutual fund market, make this latest acquisition a solid fit for Genstar’s aggressive growth plans for AI.”