Financial information company Euromoney Institutional Investor, which owns Wealth-X, has acquired insights business Wealthengine for an undisclosed sum.
Both Wealth-X and Wealthengine provide data on the world’s wealthiest individuals.
The two companies have operated in the same space for a while, and chief executive Richard Green said Wealth-X identified opportunities to synergise the two businesses’ data sets and expand their product offering to both client bases.
He added that no clients of either firm will experience any disruption as a result of the acquisition, and that their accounts will see no changes, as they will operate separately for the time being.
Green said: “As we welcome the global Wealthengine team to the Euromoney family, we will share regular updates on key initiatives that will provide our clients with an enhanced experience.
“We are deeply excited about the potential of this acquisition and look forward to unveiling superior wealth intelligence solutions that support and advance your organisation’s goals.”
Following the acquisition, Green will become chief executive of both Wealth-X and Wealthengine.