October 27, 2021
London, 27 October 2021: Today, RIMES, the global strategic data partner for asset managers, asset owners and service providers, announces its intention to acquire Matrix IDM, an Australia-based investment data management platform, for an undisclosed sum.
The acquisition will bring together superior managed data services and powerful analytics technology to help asset owners, institutional investors, asset managers and service providers solve complex data problems. Matrix Co-CEO Stuart Plane will join the RIMES Executive Committee, and together with co-founder Neil Lotter and RIMES Head of Managed Data Services (MDS) Shaun Mirams, will lead the combined MDS and Matrix IDM business segment.
Brad Hunt, CEO, RIMES, commented: “We believe this acquisition heralds a new era in the provision of data management solutions and is a pivotal moment for RIMES, Matrix IDM, our shared clients and the industry. With Matrix IDM, we can offer an end-to-end solution that will enhance performance across our clients’ enterprise – from investment research to performance management to regulatory reporting. In addition, the Matrix team brings an in-depth understanding of data management, sector knowledge, and proven technical prowess. These attributes will help us to significantly accelerate the opportunities that the combined MDS and Matrix offering will deliver.”
Stuart Plane, Co-CEO Matrix IDM, continued: “Data drives this vital industry and building advanced technology to support this has always been our passion. We strongly believe that being part of RIMES will enable us to accelerate the adoption of the Matrix IDM platform, which will be fuelled by the highest-quality catalogue of managed data sourced from the industry’s broadest set of data providers. When it comes to mastering and delivering high-quality, reliable investment data, there is no one better than RIMES. Combining our industry-leading capabilities into a single entity will empower our shared users to make even better-informed investment decisions.”
Brad concluded: “The volume and complexity of the investment data used by our industry has grown exponentially, and along with that, so have the challenges posed by poor data, processes and technology. This is compounded by emerging requirements, such as the need to understand your portfolio’s carbon footprint. By incorporating the power of the Matrix IDM cloud-native platform with our trusted managed data services, we are well positioned to lead the industry in the provision of functionally rich, specialist data management solutions.”