Newly named financial broker TP Icap has made its first acquisition, picking up analytics and business consulting firm Burton-Taylor International.
TP Icap has its own division providing independent real time information on over-the-counter financial product prices. Burton-Taylor will "complement" this division, TP Icap said.
Chief exec John Phizackerley said the deal represents the "first stage" in the roll out of its "ambitious, strategic growth plans". He added:
To be successful in the data business, it is critical to have quality, independent, position-neutral content and that is precisely what a combination of the Burton-Taylor assets and our data and analytics division represent.
Burton-Taylor provides data and insight across key industries, including financial services, media and software. It also delivers reports on financial market data, risk, exchange services, media intelligence and public relations,
Rebranded as TP Icap at the end of last month – having previously been called Tullett Prebon – the firm said it hopes the acquisition of the Burton-Taylor assets will help the firm to further increase the depth of data it delivers to clients and rapidly expand its services into new sectors.
"TP Icap shares my core values and together we will remain committed to the production of market-leading, independent research that equips our customers to make better, more informed decisions," said Burton-Taylor managing partner Douglas Taylor.