RIMES acquires Matrix IDM for advanced investment data management solution


RIMES acquires Matrix IDM for advanced investment data management solution

By Joy Dumasia

28 October 2021

  • Asset Management
  • Australia
  • Digital assets

RIMES, the global strategic data partner for asset managers, asset owners and service providers, announces its intention to acquire Matrix IDM, an Australian investment data management platform, for an amount not disclosed.

The acquisition will bring together premium 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. Along with co-founder Neil Lotter and RIMES Managed Data Services (MDS) Manager, Shaun Mirams will lead the combined MDS and Matrix IDM business segment.

Brad Hunt, CEO of RIMES, commented: “We believe this acquisition heralds a new era in delivering data management solutions and is a pivotal moment for RIMES, Matrix IDM, our mutual customers and the industry. With Matrix IDM, we can offer an end-to-end solution that will improve our clients’ business performance, from investment research and performance management to regulatory reporting. In addition, the Matrix team brings a deep understanding of data management, industry knowledge and proven technical prowess. These attributes will help us dramatically accelerate the opportunities that the combined MDS and Matrix offering will provide. ”

Stuart Plane, Co-CEO of Matrix IDM, said: “Data drives this vital industry and creating cutting-edge technologies to support this has always been our passion. We are confident that being part of RIMES will allow us to accelerate the adoption of the Matrix IDM platform, which will be powered by the highest quality managed data catalog from the industry’s broadest set of data providers. When it comes to mastering and delivering reliable, high-quality investment data, there is no one better than RIMES. Combining our industry-leading capabilities into a single entity will enable our common users to make even more informed investment decisions.

IBS Intelligence reported that Matrix, the provider of solutions for owners and asset managers, and Ortec Finance, one of the world’s leading providers of technologies and solutions for risk and reward management, have announced the release a standard interface with Ortec Finance’s Pearl system.

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