29th Sep 2015 06:58
LONDON (Alliance News) - Publishing and events company Euromoney Institutional Investor PLC on Tuesday said it has acquired a 10% stake in private capital placement platform and workflow tools provider Zanbato Inc for USD5.5 million in cash.
The investment has been made as part of a USD14.0 million Series B funding round for Zanbato.
The US company operates a software platform which helps broker-dealers, placement agents and fund managers to handle share placings and operates a separate software unit which allows institutional investors to access direct private investments.
Earlier this year, Zanbato and Institutional Investor, a Euromoney unit, entered into a joint venture to combine Zanbato's technology with the Investor Intelligence Network run by the Euromoney subsidiary.
"Our partnership with Zanbato will enable our Institutional Investor division to expand further its digital revenue streams by tapping into the fast-growing online private placement market. Over the next five years, this sector has the potential to create a significant opportunity for placement platforms," said Euromoney Chairman Richard Ensor.
By Sam Unsted; [email protected]; @SamUAtAlliance
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