BlackRock Inc. said it has entered into an exclusive agreement to buy French software firm eFront, a move by the world’s largest money manager to become a bigger provider of the technology used by Wall Street. The offer from the New York firm is to pay $1.3 billion in cash for 100% equity in eFront. The software company provides reporting on private equity and alternatives for financial institutions, tracking everything from fees to deals to fundraising.

Source: Wall Street Journal March 22, 2019 09:45 UTC