Lipper announced Tuesday that it has entered into an agreement to purchase HedgeWorld and the TASS Research database business, two highly regarded hedge fund research tools.

Lipper, the fund analysis and research arm of Reuters, will buy TASS Research, an institutional-quality hedge fund database covering roughly 6,600 hedge funds, from Tremont Capital Management. Under the terms of the agreement, Tremont will retain the right to use the TASS database.

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