Lonsec first announced its interest in van Eyk’s iRate business last month when it submitted a bid to acquire the assets.
The acquisition will enable Lonsec Research to improve its technology offering to the planning and manager markets.
Joint chief executive of Lonsec Fiscal Holdings, the holding company of Lonsec Research, Amanda Gillespie said the acquisition of iRate will not only allow Lonsec to showcase its research to the current iRate clients, but “enhance and evolve the delivery of research and portfolio construction tools to [its] existing client base”.
Lonsec Research chief executive David Erdonmez said the immediate priority is to “ensure the existing services to iRate clients are maintained as seamlessly as possible, and that these clients have confidence in the research rigour of Lonsec that will now underpin iRate”.
“We are also pleased to confirm our commitment to proceeding with the release of iRate Version 5, a major upgrade which will provide material technological advances in portfolio construction for all users,” said Mr Erdonmez.
Lonsec said it will be working with the liquidators, Moore Stephens, to liaise with clients with regard to services.
The expected date of transition is in three weeks’ time, Lonsec said.
