Bloomberg is buying Brainpower, a European provider of decision-support software and analytics for fund managers. It is paying $40 million in cash for the firm, whose shares trade on the Geregelter Markt of the Frankfurt Stock Exchange, but which is headquartered in Lugano, Switzerland.
“This acquisition supports Bloomberg’s ongoing commitment to innovation and continual product enhancements, adding value for users of the Bloomberg Professional service,” said the company instatement. “The integration of Brainpower’s proprietary technology with Bloomberg’s powerful data and analytics will further broaden and deepen the Bloomberg Professional service for global investment managers.”
Brainpower provides security screening and analysis, portfolio analysis, risk and performance analysis, asset allocation, alerting and reporting services for fund managers. It also offers reference data storage and management and publication of analytical content through on- and off-line reporting and market and portfolio monitoring.