TipRanks To Acquire 'The Fly,' Digital Publisher of Financial News

Financial analysis company TipRanks Ltd. Is acquiring The Fly, a digital publisher of real-time financial news, the firm announced on Wednesday. Terms were not disclosed.

The transaction is expected to close in Q1, subject to customary conditions.

The Fly, founded in 1998, reports on news that affects publicly traded companies. Its live-streaming subscription service provides data sourced from analyst research notes, company press releases, SEC filings, newspapers, blogs, social media and trading desks.

TipRanks is a technology company that analyzes financial big data to provide market research tools for retail investors.

The firm has been working with The Fly for several years, and has “always been impressed by the professionalism, speed, and accuracy with which they analyze data and publish breaking news stories,” states Uri Gruenbaum, chief executive officer, TipRanks.

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Gruenbaum adds, “We see a lot of synergy between our companies and are excited that we can expand our offerings to provide breaking news – one of the top requirements of our Enterprise customers and end users.”

Ron Etergino, president of The Fly, adds that both firms "strive to level the playing field for investors and TipRanks' institutional-grade research tools and data will enhance The Fly's financial news products.”

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