A financial technology firm has agreed to acquire financial news site The Fly for an undisclosed amount.
The deal is expected to close by the end of March.
The acquirer, TipRanks Ltd., analyzes financial data to provide market research tools for retail investors. The TipRanks Financial Accountability Engine scans and analyzes financial websites, corporate filings submitted to the SEC, and analyst research, to rank financial experts in real time.
The Fly was founded in 1998. The Fly’s strategy is to publish short-form stories consisting of only market-moving content. It uses sources such as analyst research notes, company press releases, SEC filings, newspapers, blogs, social media and trading desk sources.
“TipRanks is a natural home for The Fly,” said Ron Etergino, The Fly’s president, in a statement. “Both companies strive to level the playing field for investors, and TipRanks’ institutional-grade research tools and data will enhance The Fly’s financial news products.”