RiskMetrics Group has formed an agreement to acquire Institutional Shareholder Services, the two companies announced Wednesday. Both are looking to expand beyond proxy voting, corporate governance and risk management solutions to offer data, analytics and investor advice. ISS, which had been up for sale since the summer, will operate as a wholly owned subsidiary of the acquiring firm, with CEO John M. Connolly continuing in his role at ISS.

“As financial markets become more important and complex, RiskMetrics Group is committed to providing expertise and leadership to all market participants,” said Ethan Berman, chief executive officer of RiskMetrics.

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