In order to expand global services for its issuer community, NYSE Euronext ( NYX - Analyst Report ) entered into a definitive agreement to acquire Phoenix-based consulting service provider Corpedia Corporation. The deal, terms still undisclosed, is expected to close next month.

With the acquisition of Corpedia, which provides ethics and compliance e-learning and consultative services, NYSE will be able to provide its customers access to innovative products and improved services. Corpedia will not only assist the company with its expertise but also by offering enterprise governance, risk and compliance assets (“GRC”).

NYSE’s issuer community will also benefit from a wide range of value added services of Corpedia and will also seek to improve the service platform of the company.The strategic alliance between the two is expected to be mutually beneficial as Corpedia will now serve the companies listed on NYSE as well.

Competing on similar lines NYSE’s arch rival Nasdaq OMX Group Inc ( NDAQ - Analyst Report ) announced the acquisition of BWise, a competitor of Corpedia and the provider of GRC software, early this month.

Nasdaq intends to make these solutions available through NASDAQ Corporate Solutions’ software technology business. This in turn complements and boosts NASDAQ’s SMART technology that is also a surveillance and compliance monitoring platform for brokers, exchanges and regulators.

On a closer look, we observe that NYSE’s decision to acquire Corpedia is in line with its strategy to expand its services worldwide. The company continues to grow through mergers, acquisitions and alliances.

NYSE currently retains a Zacks #3 Rank, which translates into a short-term Hold rating. We also retain a long term Neutral recommendation on its shares.