Fundsquare is a subsidiary of the Luxembourg Stock Exchange (LuxSE) which will become an investor in FE fundinfo.

Fundsquare serves global asset managers and fund industry service providers. The company was established by LuxSE in 2013 to facilitate cross-border fund distribution and has 65 employees.

The cost of the deal has not been disclosed.

FE says Fundsquare will help it build on FE fundinfo’s established operation in Luxembourg.

As part of the deal FE fundinfo will establish a Centre of Excellence for regulatory reporting based in Luxembourg. 

The acquisition also further provides an opportunity for LuxSE and FE fundinfo to “explore joint opportunities” in ESG-related products and services.

FE fundinfo has more than 900 staff and offices in the UK, Europe, Asia and Australia. It provides fund data and technology expertise to fund managers, fund distributors and financial advisers. 

FE fundinfo has acquired numerous firms around the world in recent years including, last year, UK cashflow modelling software firm CashCalc. Last year it also acquired Australian firm Zenith Group in a deal which included including Zenith Investment Partners and Chant West, a research and ratings firm. 

Hamish Purdey, CEO of FE fundinfo said: “Fundsquare’s reputation as an independent fund registration and regulatory reporting champion is renowned across Europe. We believe our services are highly complementary and the deal will bring together two industry leaders in fund data and reporting. 

“By combining our services, the scope for greater efficiencies and product innovation will dramatically increase and the industry will benefit greatly from the enhanced product and service integration. Luxembourg will house our centre of excellence for regulatory reporting with comprehensive coverage of key European fund jurisdictions.”