• Creates a single destination for shared global client base 

• Combines advanced, cloud-native technology with superior managed data  services 

• Significantly extends capabilities of RIMES’ managed data service offering • Delivers a unique, rich source of quality ESG, ETF and other datasets from more  than 1,600 sources 

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.”