IRESS has acquired QuantHouse for up to €38.9 million a debt and cash free basis, with a material portion subject to earnout performance criteria through to the end of 2021.

QuantHouse operates internationally, with a focus on Europe, North America and Asia, providing more than 145 data feeds from exchanges and other data providers to clients globally.

IRESS chief executive Andrew Walsh said: “The provision of accurate, timely and cost-effective market data through our software and to a range of clients is an important part of IRESS’ current and future business and our growth strategy.

“QuantHouse is highly complementary and strategically aligned to IRESS’ existing and future activities and to its international offering, including IRESS’ increasing focus on data,” he continued, adding: “The acquisition will further strengthen IRESS’ international market data business and provide opportunities to achieve cost synergies and scale.”

The deal will also allow IRESS to provide clients with real-time access to additional services, including international exchanges, with global MSCI coverage increasing from 52 per cent to 75 per cent.

QuantHouse is being sold by its co-founder and chief executive Pierre Feligioni, although he will continue to lead the team.

Feligioni said: “Together, we can continue to innovate by growing our respective product scope and further developing a new generation of services for the best interests of both IRESS and QuantHouse clients and partners.”

Share Story: