RIMES to acquire Matrix IDM 27 October 2021UK Reporter: Carmella Haswell
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RIMES, a global data management firm, has announced its acquisition of Australian-based investment data management platform Matrix IDM.
The acquisition will bring together managed data services and analytics technology to help asset owners, institutional investors, asset managers and service providers solve data problems.
Matrix co-CEO Stuart Plane will join the RIMES executive committee, and together with co-founder Neil Lotter and RIMES head of managed data services (MDS) Shaun Mirams, will lead the combined MDS and Matrix IDM business segment.
Brad Hunt, CEO, RIMES, comments: “We believe this acquisition heralds a new era in the provision of data management solutions and is a pivotal moment for RIMES, Matrix IDM, our shared clients and the industry. With Matrix IDM, we can offer an end-to-end solution that will enhance performance across our clients’ enterprise – from investment research to performance management to regulatory reporting.
"The volume and complexity of the investment data used by our industry has grown exponentially, as have the challenges posed by poor data, processes and technology. This is compounded by emerging requirements, such as the need to understand your portfolio’s carbon footprint.”
Plane adds: “Data drives this vital industry and building advanced technology to support this has always been our passion. We believe that being part of RIMES will enable us to accelerate the adoption of the Matrix IDM platform, which will be fuelled by the highest-quality catalogue of managed data sourced from the industry's broadest set of data providers.”
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