Proxy advisory firm Glass Lewis has acquired IVOX, the top German provider of proxy advisory and governance services for institutional investors, according to a press release by Glass Lewis. Terms of the deal have not been disclosed.
The move broadens the European base of San Francisco-based Glass Lewis, the world’s second-largest proxy advisory firm after ISS, adding 30 European institutional clients currently served by IVOX, which also offers governance research on more than 2,500 companies on the continent.
Current IVOX clients include Belgium’s Federal Public Service for Information and Communication Technology, the National Railway Company of Belgium, movie theatre chain Kinepolis Group and others, according to the IVOX website.
‘As part of our ongoing commitment to providing clients with superior global governance expertise, we are delighted to add Dr Alexander Juschus and his experienced team of IVOX analysts to Glass Lewis,’ says Katherine Rabin, CEO of Glass Lewis, in the press release. ‘The IVOX team’s deep knowledge and experience analyzing European companies will benefit Glass Lewis’ clients immediately, complementing the research being produced by our European headquarters in Limerick, Ireland.’
In coming months, IVOX and Glass Lewis will integrate their technology and research, but IVOX will continue to operate from its base in Karlsruhe, Germany. Juschus, co-founder of IVOX, will become general manager of Glass Lewis Europe’s new German office, the company adds. The acquired firm will become IVOX Glass Lewis, a subsidiary of Glass Lewis Europe, and will tap Glass Lewis’ IT systems, research and other resources, Glass Lewis says.
‘IVOX Glass Lewis clients will continue to receive all the services currently offered, including German language research reports, plus have new access to research on more than 20,000 meetings annually in more than 100 global markets,’ Juschus says in the release. ‘We are very excited to be a part of the Glass Lewis team.’
