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Nasdaq Acquires Solovis For eVestment Unit

Mar. 11, 2020 2:21 PM ETNasdaq, Inc. (NDAQ)


  • Nasdaq has acquired Solovis for an undisclosed sum.
  • Solovis has developed a unified view platform for investment managers to maximize their ability to analyze and make well-informed decisions.
  • The deal builds out Nasdaq's eVestment capabilities.
  • NDAQ has dropped to around $100; given near-term uncertainties from the Covid-19 pandemic, my bias is Neutral.
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Quick Take

Nasdaq (NASDAQ:NDAQ) has announced the acquisition of Solovis for an undisclosed amount.

Solovis has developed a unified system for viewing multi-asset class portfolio information.

With the deal, NDAQ is building out its eVestment offering with a unified view of financial information.

NDAQ is down 14% from its recent high as uncertainties from the effect of the Covid-19 pandemic weigh heavily. My bias on the stock at its current price of around $100 is Neutral.

Target Company

Dallas, Texas-based Solovis was founded to develop an integrated software suite to enable portfolio managers to view their full range of investments across multiple asset types, whether for public or private investments.

Management is headed by Co-founder and Chief Executive Officer Josh Smith, who was previously Managing Director at CTO3 and Associate at Investure.

Below is an overview video of a customer testimonial:

Source: Solovis

Solovis’s primary offerings include:

  • Data collection

  • Data aggregation

  • Analysis

  • Predictive analytics

  • Report sharing

Company partners or major customers include:

  • Endowments, Foundations & Pensions

  • Family Offices

  • RIA's and Fund of Funds

  • Administration

Investors have invested at least $19.5 million and include Edison Partners, Timberline Venture Partners, OCA Ventures, MissionOG, FINTOP Capital, Cultivation Capital and Northwestern University.

Market And Competition

According to a 2019 market research report by Kenneth Research, the market for investment management software was valued at $2.4 billion in 2017 and is expected to grow at a CAGR of over 11.5% from 2018 to 2025.

The primary driver for the market is expected to be a 'growing need for reliable and efficient processing of investment-related data and a rising need for efficient asset management in different organizations.'

The market is highly fragmented, with dozens of market participants of varying sizes.

Major vendors that provide competitive services include:

The dominant region has been North America

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This article was written by

Donovan Jones profile picture

Donovan Jones is a research specialist with 15 years of experience identifying opportunities for IPOs and software companies.

He also leads the investing group

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