RIMES Announces Its Plan to Acquire Matrix IDM

RIMES, a financial managed data services and RegTech specialist, has announced its intention to acquire Matrix IDM, an Australia-based investment data management platform, to create an advanced investment data management solution for shared global client base.

According to the press release, the acquisition will bring together superior managed data services and powerful analytics technology to help asset owners, institutional investors, asset managers and service providers solve complex 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.

“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,”Brad Hunt, CEO, RIMES, commented.”In addition, the Matrix team brings an in-depth understanding of data management, sector knowledge, and proven technical prowess. These attributes will help us to significantly accelerate the opportunities that the combined MDS and Matrix offering will deliver.”

“We strongly 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,”Stuart Plane, Co-CEO Matrix IDM added.