Euromoney Buys Extel From WeConvene - Quick Facts

Euromoney Institutional Investor PLC (ERM.L) said that it has acquired 100 percent of the business and assets of Extel from WeConvene. Extel will be integrated into Euromoney's Institutional Investor Research business.

Euromoney noted that the acquisition of Extel fits within then company's strategy of investing in its main themes, specifically asset management.

Extel runs the annual independent survey of quality across the European equities investment community. The Extel Survey began in 1974, and in 2017 over 15,500 investment professionals cast 1.1 million votes across the investment industry, providing an unparalleled data-set to help clients analyse and drive their market understanding.

Will Rowlands-Rees, MD of Institutional Investor Research, said, "Although a small business Extel has a strong reputation in the European market, and is highly complementary to our existing Institutional Investor Research offerings. By integrating these businesses, we will create a unique bulge bracket through domestic broker view of research product evaluation in the European market at a time of tremendous market change driven by MiFID II."

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