Barra Global Investment Technology Inc. has signed a letter of intent with Citicorp to purchase its Institutional Brokers Estimate Service (I/B/E/S). The California-based vendor aims to exploit I/B/E/S's data collection expertise and develop new products.
Terms of the deal, struck March 1, weren't disclosed. The announcement comes just one month after Barra purchased a minority stake in Treasury broker, Liberty Brokerage Inc., acquiring access to Liberty's pool of Treasury data.
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