Liquidnet Acquires Prattle To Expand AI Platform

Liquidnet, a global institutional investment network that connects investors with investment opportunities, said Wednesday it reached an agreement to acquire Prattle.

What To Know

Prattle, a provider of automated investment research solutions, will expand Liquidnet's artificial intelligence investment analytics platform, Liquidnet said in its press release. Specifically, Prattle developed a Natural Language Processing (NLP) and Machine Learning (ML) system that produces analytics that measures sentiment and predicts the market impact of publicly available content from companies and central bank authorities.

Asset managers are able to use Prattle's technology to better understand and anticipate relevant market movement, strengthen their investment theses and inform trading strategies.

Prattle is an alumni of the Benzinga Fintech Awards.

Why It's Important

Liquidnet's prior acquisitions include RSRCHXchange and OTAS Technologies. The company's new suite of offerings is expected to "revolutionize the way fund managers source, access, evaluate, and act on market information and insight to strengthen investment decisions and help generate alpha."

"Prattle is yet another powerful tool for asset managers to discover actionable insight from the enormous amounts of unstructured data that is produced throughout the capital markets," said Brian Conroy, President of Liquidnet.

"Our proprietary NLP and data science technology are an ideal complement to Liquidnet's AI-driven analytics platform, and we're eager to be part of its growing Global Investment Network," said Evan Schnidman, CEO of Prattle.

Related Links:

Central Bank Sentiment Company Prattle Announces $3.3 Million Funding Round

ComfortDelGro Venture Fund Invests In Three Transportation Startups