3d innovations (3di), a data management solutions company, has acquired Charlotte-based Investment Data Licensing Advisors (IDLA), a market and investment data licensing advisory firm serving the US market.
The acquisition follows demand from investment firms and market data vendors for more bespoke and creative solutions that leverage best practices when managing data selection, usage risk and costs, and sees the firm expanding its global reach. As part of the agreement, John White, IDLA principal, will lead the company as newly appointed 3di CEO.
IDLA provides investment managers and other market data consumers with a comprehensive, integrated data solutions program that improves risk management and reduces cost, while optimising data and reporting. The team counsels data vendors and exchanges on commercial policy and distribution programs that create sustainable growth, and provides M&A transaction advice.
Following the acquisition, IDLA and all assets and resources will be fully absorbed into 3di, enabling a more evolved and robust set of 3di software and services over time. Clients will gain more depth of industry knowledge and additional executive level negotiations experience as 3di expands with new offices in Charlotte, North Carolina and Fort Lauderdale, Florida in addition to existing offices in New York, London and Amsterdam.
Stephen Veasey, COO/CFO and Founder, 3di, says: “We’ve experienced tremendous product growth this year due to the emphasis on having to work remotely and the need for robust online intelligence tools. We enjoyed a long and successful client-supplier relationship with John White during his tenure at State Street and LSEG and partnered very early on with IDLA when he started the venture. It became clear that our common expertise, values and vision with respect to enterprise market data management, made for a very obvious corporate combination of the two companies. This experience also makes John the perfect candidate to lead as CEO of 3di.”
White is a recognised market and reference data executive with more than 35 years’ experience across the investment data industry. Prior to founding IDLA, he served as managing director and global head of market data and distribution for the London Stock Exchange, and held senior level data roles at State Street Global Advisors, Columbia Management Group and Wellington Management Company where he managed large market data licensing budgets and data quality teams. Because of his experience on both sides of the industry, John offers a unique perspective that is invaluable to consumers and sellers of data.
“The demand for integrating various industry best practices when it comes to managing data spend and data vendor commercial policies is evolving quickly,” says White. “In fact, we predict that leveraging a robust set of tools and policies along with a collaborative vendor negotiation strategy are key to our clients’ ability to optimise the value of their data services spend.
“We already have very strong and aggressive plans for 2021. These include more acquisitions, new product offerings and expansion into new geographies. I look forward to leading the highly talented 3di team as part of our sustainable growth strategy.”