Photo: Leaprate
SIX, the financial services company that operates the infrastructure for the Swiss financial centre has announced taking a majority stake via growth investment in a Canadian-based AI platform specializing in ESG and alternative data sets, Orenda Software Solutions. The move is part of SIX’s strategy to help its customers drive more insights with data, providing consumption-ready data and analytics for faster and more informed decisions.
Tanya Seajay, founder and CEO of Orenda commented:
"SIX has a strong commitment to both innovation and sustainability. We had previously announced a sales partnership with SIX, this new step enables Orenda to accelerate its expansion to a much broader global customer base and to develop new solutions that combine the vast securities database of SIX and Orenda unique skillset."
The finalization of the transaction is planned for the first quarter of 2021. The terms of the deal have not been disclosed.
Marion Leslie, Head Financial Information & member of Executive Board, SIX, highlighted:
"With Orenda we have found the right partner with unique expertise in alternative data sets, data science and ESG. As we bring our capabilities and the expertise of our teams together, we see a lot of opportunities to build new propositions supporting the growth of impact investing."
Orenda provides real-time, high-frequency ESG scores and insights into a company’s reputation to help measure the sustainability and societal impact of an investment. Orenda is a market-ready solution based on an AI-powered platform that analyzes and quantifies social media data to provide insights, quantify public perception, and to identify values that resonate with customers and stakeholders. Orenda’s metrics provide organizations and investors with information allowing them to make better decisions based on real-time information.
Orenda was founded in 2015 and operates in Ontario with a team of professionals, skilled in the fields of artificial intelligence, alternative data, social science and finance.
Reprinted from Leaprate, the copyright all reserved by the original author.
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