Largely lost in the din over the EU exit, JLL have announced yet another interesting acquisition (terms not disclosed). They have acquired MSCI’s (formerly IPD/OPD) occupier cost benchmarking business. I’m told that this was not really integrated into IPD’s larger investor benchmarking business and fairly easy to carve out. JLL seem to be steadily growing their benchmarking services. OSCAR for service charges has been around for a long time. They acquired Upstream in 2007 in order to enhance their environmental benchmarking capability. With their large property and facilities management businesses, they’re going to have huge amounts of proprietary data. That’s a lot of data to manage. I’d assume there are or will be lots of governance processes in place to reduce information leakage.