Nasdaq is buying eVestment, a data and content provider to asset managers, for $705m of cash and debt in the latest step to expand the group’s technology, data and analytics businesses. Known most commonly as the operator of the eponymous US equities exchange, Nasdaq has over the last decade diversified as the profitability in trading equities has shrunk with regulatory change and heightened competition. The latest acquisition comes as chief executive Adena Friedman, who took the helm of the company in January, has repeatedly signaled data and technology as areas of focus and growth for Nasdaq.
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