SIX, the operator of the Swiss and Spanish Stock Exchanges, has taken a majority stake in Canadian AI platform Orenda Software Solutions. SIX states the acquisition is a step is part of its strategy to help its customers drive more insights with data and analytics for faster and more informed decisions. Terms of the investment were not disclosed. The deal is expected to close during Q1.
Founded in 2015, Orenda is an AI-powered platform that seeks to deliver real-time ESG scores and insights into a company’s reputation to help measure the sustainability and societal impact of an investment.
Marion Leslie, Head Financial Information & member of Executive Board, SIX, commented on the investment:
“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.”
Tanya Seajay, founder and CEO of Orenda said that 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”.