Fund tracker EPFR Global sold to Informa
NEW YORK |
NEW YORK (Reuters) - EPFR Global told Reuters on Friday the mutual fund tracking company has been sold to British business media group Informa Plc for an undisclosed sum.
EPFR Global, a 15-year old Cambridge, Massachusetts-based company, publishes widely followed weekly snapshots of cash flows in and out of mutual funds that investors use to spot market trends.
The company was privately held at the time of the sale. Co-founders Brad Durham and Dwight Ingalsbe are remaining with the company under the new ownership structure. The timing of the sale, nor other details were immediately available.
Earlier this week at the Reuters Global Media Summit in London, Informa (INF.L) chief executive Peter Rigby said the company might make bolt-on acquisitions to increase its presence in high-end trade shows and conferences. The firm has about 120 million to 130 million pounds of free cash to spend without increasing its debt and transformational deals were not at the forefront of the company's agenda.
(Reporting by Daniel Bases and Walter Brandimarte; editing by Andre Grenon)
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