MSCI (NYSE:MSCI) said Wednesday that it has agreed to acquire London-based Foxberry, a provider of front-office index technology for investors, a move that’s set to expand MSCI’s custom index offering.
The integration of Foxberry includes its foxf9 index and analytics platform, which focuses on index and strategy creation through hyper customization, extensive back-testing and simulation capabilities, sustainability criteria, and reporting.
As such, the deal, which is expected to close in Q2 2024, “will allow MSCI to better meet demand for customized portfolios that reflect unique views and meet specific outcomes, emphasizing our commitment to providing tailored index solutions,” said Jana Haines, head of Index at MSCI.
Terms of the transaction were not disclosed, and the financial impact of the deal is not expected to be material to MSCI (MSCI), it said.
MSCI edged up 0.6% in afternoon trading.