Fund data provider FE fundinfo has bolstered its Nordic presence after buying FundConnect, a rival firm based in Denmark.

No financial details were disclosed but according to FE fundinfo, the deal brings together its own expertise in the UK, Europe and Asia with FundConnect’s “complementary set of services and its unique position in the Nordic fund industry”.

FundConnect is also a part owner, along with the Danish Investment Association, of FundCollect, a data collection utility which serves the Danish mutual funds market for both domestic and international managers.

“This transaction enables us to offer a broader and deeper fund data universe to our clients and continue to drive the agenda for standardisation and efficiency in the collection and distribution of fund data,” said Christian Mahler, chief executive at FundConnect.

“We share a similar philosophy with FundConnect in aiming to improve standardisation across the global fund data landscape and help our clients access and distribute their fund data and documents in a streamlined manner,” added FE fundinfo chief executive Hamish Purdey.

The deal follows a period of rapid growth for FE fundinfo. In 2020, the firm acquired Liechtenstein-based ESG data provider CSSP and in 2021 it has expanded its commercial presence in Europe with a number of hirings.

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