Deutsche Börse Group is expanding its offering in the data services space by acquiring European fund data specialist Kneip Communication SA.
The companies have reached an agreement through which Deutsche Börse will acquire 100 per cent of the Luxembourg-based fund data manager. Further terms of the transaction, which is expected to close by age end of March, have not been disclosed.
Established in 1993, Kneip is a recognised leader in fund data management and regulatory reporting solutions for the asset management industry. The company manages investor disclosure and data publication for more than 10,000 funds in over 40 countries, including the production of over 200,000 reporting solutions. Kneip currently services over 30 per cent of EU-based fund ISINs.
This partnership forms the basis for creating a leading fund data hub based in Luxembourg.