Deutsche Börse is expanding its offering in the data services space by acquiring Kneip Communication, a European fund data specialist. The companies have reached an agreement through which Deutsche Börse will acquire 100% of the Luxembourg-based fund data manager. Further terms of the transaction were not disclosed. The transaction is expected to be completed by the end of March this year.
Established in 1993, Kneip provides fund data management and regulatory reporting solutions for the asset management industry. The company manages investor disclosure and data publication for more than 10,000 funds in over 40 countries, including the production of over 200,000 reporting solutions. Kneip currently services over 30% of EU-based fund ISINs.
This partnership forms the basis for creating a fund data hub based in Luxembourg. Kneip will seek to further scale the business and expand its range of services inside Deutsche Börse Group, including data and post-trade services provided by Clearstream. Deutsche Börse also intends to connect Kneip’s services with its established fund services platforms. The focus will be on significantly simplifying the process of data management and services for asset managers and other market participants across the fund ecosystem.
Deutsche Börse considers fund services and data to be key areas for future growth. The Group intends to grow its market position organically via further investment in its existing businesses, and through targeted acquisitions. Kneip delivers on these growth areas and will continue to operate as a strong member of the Luxembourg fund services community.
Philippe Seyll, head of Investment Fund Services at Deutsche Börse, said in a statement: “Through Kneip’s global reach and broad range of services, we will be able to further develop our product and service offerings and add value for funds clients at every stage of their business. This is also a unique opportunity to create a leading European fund data champion based in Luxembourg.”
Enrique Sacau, CEO at Kneip, said in a statement: “Clearstream has a long history of driving innovation within the financial sector and shares our vision, values and our commitment to customer service. Deutsche Börse’s scale and resources will broaden our portfolio and boost our ability to deliver more value to clients faster. I look forward to developing and growing Kneip as part of Deutsche Börse Group.”
Bob Kneip, founder and vice chair at Kneip, said in a statement: “Efficient, sustainable and scalable fund data management will contribute to making this world a safer place for investors and savers.”