Index provider MSCI has agreed to acquire Foxberry, a London-based provider of front-office index technology for investors, for an undisclosed amount.
Founded in 2014, Foxberry builds and delivers investment solutions driven by its foxf9 technology – a platform designed to tackle complex index construction and risk-modelling applications. The platform focuses on index and strategy creation through hyper customization, extensive back-testing and simulation capabilities, sustainability criteria, and reporting.
MSCI expects the acquisition to strengthen its existing suite of index customization solutions and provide a new client-centric, interactive experience, further scaling its ability to deliver client ideation through simulation and analysis and introduce new features relevant to a wide variety of investors.
“Investors face the challenge of balancing competing investment objectives. This acquisition will allow MSCI to better meet demand for customized portfolios that reflect unique views and meet specific outcomes, emphasizing our commitment to providing tailored index solutions,” says MSCI head of index Jana Haines.
The financial impact of the transaction is not expected to be material to MSCI. The deal is expected to close in the second quarter of 2024, subject to regulatory approvals and customary closing conditions.