FE fundinfo this week announced the acquisition of Fundsquare, the Luxembourg-based fund registration and regulatory services provider.
The acquisition of Fundsquare will allow the investment fund data and technology provider to transform cross-border fund distribution, delivering lower operational and regulatory risk with increased efficiencies leading to flexibility in the distribution of funds.
Hamish Purdey, chief executive officer of FE fundinfo, said: "We are now positioned to transform cross-border fund distribution by enabling efficiencies for our clients in data management, fund registration and reporting".
The move will create a combined data management, product registration, client reporting, regulatory reporting and dissemination platform.
Maxime Aerts, managing director and CO of Fundsquare, said: "Growing competition in the asset management industry, along with a need for more precise governance and risk mitigation, requires strong data management and disclosure capabilities.
Founded by Luxembourg Stock Exchange in 2013, Fundsquare overlooks the collection and distribution of investment data and information cost-effectively.
Fundsquare will complement the already established operations of FE fundinfo in Luxembourg, forming a local centre of excellence of 100 plus fund and regulatory experts.
FE fundinfo describes itself as an independent provider of investment fund data and technology, serving fund managers, fund distributors and financial advisers.