Performance calculation specialists Confluence will acquire analytics provider Orfival, in a move that expands the former beyond its traditional US heartland.
The acquisition will allow Confluence clients access to Orfival's performance measurement and attribution analytics, and will boost the vendor's abilities in other areas, such as reporting and benchmark comparison.
"When looking to grow Confluence we aimed to find businesses which have products or services that complement our existing offerings to add greater value to the global asset management industry," says Mark Evans, CEO at Confluence. "Orfival is just that, as it brings extraordinary subject matter expertise and research capabilities as well as a deep understanding of the European market. The region is one which we have strategically targeted for business growth and this acquisition makes our European networks stronger while allowing us to market Orfival products to our existing North American network."
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