News and information group Reuters is to buy EcoWin, a Swedish company specialising in global macroeconomic data and analysis, for $40 million in cash.
The acquisition of the privately-held company follows Reuters recently announced growth strategy, which includes a focus on high value content to provide greater insight.
EcoWin was stablished in 1994 and has become a leading provider of in-depth global macroeconomic time-series data. The EcoWin economic database consists of five million economic and financial time series sourced from over eight hundred primary sources, covering more than one hundred countries worldwide, as well as regional aggregates such as the Euro Zone, Europe, Africa, Americas and World.
EcoWin data is delivered through EcoWin Pro software, a charting and reporting tool for analytical manipulation.
EcoWin will be integrated with Reuters research and asset management division and its products re-branded as Reuters EocWin. Data will also be integrated with Reuters flagship 3000 Xtra desktop and Reuters Knowledge portal.
Julie Holland, global head of research and asset management at Reuters says: "The agreement is a key step towards our vision to become the leading supplier of comprehensive investment intelligence and is key to Reuters strategy in the research and asset management space."