RIMES to acquire Matrix IDM, creating an advanced investment data management solution
- Creates a single destination for shared global client base
- Combines advanced, cloud-native technology with superior managed data services
- Significantly extends capabilities of RIMES' managed data service offering
- Delivers a unique, rich source of quality ESG, ETF and other datasets from more than 1,600 sources
LONDON, Oct. 27, 2021 /PRNewswire/ -- Today, RIMES, the global strategic data partner for asset managers, asset owners and service providers, announces its intention to acquire Matrix IDM, an Australia-based investment data management platform, for an undisclosed sum.
The acquisition will bring together superior managed data services and powerful analytics technology to help asset owners, institutional investors, asset managers and service providers solve complex data problems. Matrix Co-CEO Stuart Plane will join the RIMES Executive Committee, and together with co-founder Neil Lotter and RIMES Head of Managed Data Services (MDS) Shaun Mirams, will lead the combined MDS and Matrix IDM business segment.
Brad Hunt, CEO, RIMES, commented: "We believe this acquisition heralds a new era in the provision of data management solutions and is a pivotal moment for RIMES, Matrix IDM, our shared clients and the industry. With Matrix IDM, we can offer an end-to-end solution that will enhance performance across our clients' enterprise – from investment research to performance management to regulatory reporting. In addition, the Matrix team brings an in-depth understanding of data management, sector knowledge, and proven technical prowess. These attributes will help us to significantly accelerate the opportunities that the combined MDS and Matrix offering will deliver."
Stuart Plane, Co-CEO, Matrix IDM, continued: "Data drives this vital industry and building advanced technology to support this has always been our passion. We strongly believe that being part of RIMES will enable us to accelerate the adoption of the Matrix IDM platform, which will be fuelled by the highest-quality catalogue of managed data sourced from the industry's broadest set of data providers. When it comes to mastering and delivering high-quality, reliable investment data, there is no one better than RIMES. Combining our industry-leading capabilities into a single entity will empower our shared users to make even better-informed investment decisions."
Brad concluded: "The volume and complexity of the investment data used by our industry has grown exponentially, and along with that, so have the challenges posed by poor data, processes and technology. This is compounded by emerging requirements, such as the need to understand your portfolio's carbon footprint. By incorporating the power of the Matrix IDM cloud-native platform with our trusted managed data services, we are well positioned to lead the industry in the provision of functionally rich, specialist data management solutions."
About RIMES
RIMES is an award-winning data management specialist that truly understands the challenges faced by its clients. It supports over 350 asset managers, owners, servicers and banks in 45 countries including 60 of the 100 largest global asset managers by AUM and 9 of the top 10 asset servicers in the world. The company is headquartered in New York with 14 offices worldwide.
About Matrix IDM
Matrix IDM provides trusted investment data management software to the global asset owner and fund management community. Matrix IDM solves the most difficult data challenges facing the industry today. With over half a trillion of AUM now managed on the platform, a growing number of asset owners, pension plans, fund managers and insurance companies rely on Matrix IDM to solve their complex investment, exposure and data management challenges. Matrix IDM has offices in Sydney, London and New York supporting a rapidly expanding, global customer base.
Press Contacts:
RIMES
Jordan Abrey
RIMES@missive.co.uk
+44 20 785 94845
MatrixIDM
Clare Walsh
+44 77 6877 0757
clare@adessotech.co.uk
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