MSCI buys software firm InvestorForce

software 410MSCI has paid $23.5 million (€18 million) to ICG Group to buy InvestorForce, which provides performance measurement and reporting software to institutional investment consultants in the United States.

InvestorForce chief executive Jim Morrissey says MSCI's existing risk management products, including Barra and RiskMetrics, make a good fit with his company's platform.

MSCI, a spin-off of Morgan Stanley, attained both products through acquisition, buying Barra in 2004 and RiskMetrics in 2010.

MSCI's acqusitions continued last year with the purchase of IPD Group, a London-based company that tracks property investment indices and transactions, for $125 million.

MSCI says InvestorForce's platform is used by institutional investment consultants to report on over $3.5 trillion of assets for over 3,500 institutional plans.

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