und tracker Lipper
has purchased Capital Access International
, a bond information specialist for no more than $6.35 million in cash. The final price tag is dependent on financial performance and any "hidden" liabilities, said Reuters in a statement.
, Lipper's chief executive officer said that the deal would allow the fund tracker to "benchmark and categorize mutual funds globally on peer asset allocation across both asset classes."
Lipper, a unit of Reuter, will integrate Capital Access into its operations and use the newly acquired data as part of its toolset to track bond mutual funds. Capital Access tracks detailed information on bond issues and Lipper should be able to build that data into its bond fund analytics.
The deal will not shake up the management of the acquired researcher, says Reuters. David Farrington
, chairman and CEO of Capital Access will become an executive vice president of Institutional Holdings at Lipper while eMAXX and other products and services will join Lipper's product roster and retain their current names.
Morristown, New Jersey-based Capital Access provides institutional investor profile information and bond ownership analysis to fixed income professionals.
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