RIMES, an international strategic data partner for financial institutions, announced its intention to acquire Matrix IDM today, a leading investment data management platform based in Australia.
Through the Acquisition , RIMES is planning to bring together superior managed data services and powerful Analytics technology to help a broad range of financial institutions including institutional investors, asset management firms and other service providers solve difficult data issues.
RIMES outlined that Stuart Plane, Co-CEO of Matrix IDM, will become a part of the RIMES Executive Committee. The intended acquisition will expand the capabilities of RIMES. The company aims to provide quality data sets to leading financial institutions around the world.
"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,” Brad Hunt, CEO at RIMES, commented.
“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," Hunt added.
Data Services
In the latest announcement, RIMES highlighted the growing challenges in the use of investment data. The company mentioned that its innovative data management solutions will facilitate asset managers and other leading financial service providers.
"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 fueled by the highest-quality catalog of managed data sourced from the industry's broadest set of data providers. Combining our industry-leading capabilities into a single entity will empower our shared users to make even better-informed investment decisions," Plane said.
