PNC makes Coates its second acquisition in a month

Thomas Coyle

11 December 2007

Deal augments PFPC's information services to money managers and brokerages. PNC Financial Services Group has acquired Coates Analytics, a business-intelligence provider to investment-management firms and platform sponsors. The deal, sealed this past Friday, coincides with PNC's purchase of investment-data aggregator Albridge Solutions, which came to light early last month.

Both of PNC's latest buys are on their way to becoming part of PFPC, Pittsburgh-based PNC's custody, investment processing and mutual-fund transfer arm. And both additions are meant to strengthen PFPC's hand as a provider of information to investment-product manufacturers and distributors.

Triple play

"The acquisition of make decisions and take action."

Sholes sees Coates augmenting PFPC's role as a source for investment-product information in conjunction with AdvisorCentral, a clearing house for mutual-fund client and participating-fund information.

Similarly, says Sholes, Albridge's links to around 150 broker-dealers could give Coates scope to provide product data from independent and regional sponsors in addition to the big-name brokerages it works with now. -FWR

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