Nasdaq Completes Acquisition of Dasseti to Enhance eVestment’s Private-Market Capabilities
Nasdaq has completed the acquisition of Dasseti, an AI-powered platform focused on due diligence and monitoring in both public and private markets. The integration will expand Nasdaq eVestment's capabilities beyond manager research into areas such as questionnaires, RFPs, and post-selection oversight. While financial terms were not disclosed, Dasseti covers 17,000 asset managers managing $34 trillion in assets. Nasdaq eVestment already connects over 4,800 contributing asset managers with more than 1,200 institutional clients and intermediaries across 109 countries. The platform is associated with over $90 trillion of AUM globally. Dasseti's AI-driven workflows aim to streamline processes by reducing reliance on spreadsheets and emails. The acquisition builds upon an existing relationship; Nasdaq had previously invested in Dasseti through its venture arm in 2022. The integration is expected to enable cross-selling opportunities, leveraging eVestment’s $133 million Q2 revenue base (up 5% YoY). However, the lack of financial details about Dasseti and the acquisition price leaves uncertainty around potential returns or synergies.
Tickers: $NDAQ
Topics: acquisitions AI technology private markets