NSight, which also works with financial institutions, specializes in CRM software development and implementation. Ipreo will combine NSight’s CRM applications with its investor relationship management capabilities to create a new IRM platform.
Ipreo’s current IRM platform is powered by Bigdough’s contact database. Bigdough, a subsidiary of Ipreo, contains institutional contacts and profiles. NSight’s client management platform was designed for use in institutional sales, research and trading
“Competing against Bigdough in the marketplace, we were told, ‘You have great software and functionality, but we’re married to Bigdough data. If we could get it through your platform, it would be incredibly valuable,’” said Neil Hyman, president of NSight.
Ipreo president and COO Kevin Marcus added, “We didn’t look at other companies for acquisition because the only way to play effectively in this space is with domain expertise. Frankly, relationship management is not the same as selling widgets — you need specific expertise, and the only two players in this space that had that were Bigdough and NSight.”
With the acquisition, Hyman and NSight CTO Jeff Lewis will lead Ipreo’s new research, sales and trading division. Ipreo will have a marketplace approach driven specifically by that vertical integration.
NSight’s full staff will move just down the street to Ipreo headquarters in New York. The two companies, which already share a handful of clients, should complete their integration in 2008. Bigdough data will be available to all clients immediately.
Ipreo was formed in 2006 through a merger between Marketpipe, i-Deal software and analytics and Hemscott, a financial data firm. The company is majority owned by Veronis Suhler Stevenson, a private equity firm.
NSight software is used by a dozen global investment banks in North America and Europe. Partners include CIA, Client Instant Access LLC and Goergeson Shareholder Analytics/StreetSight.