BlackRock's $1.3 billion tech deal highlights the asset manager's ambitions to be a tech company — and hints at its future

BlackRock agreed to buy Paris-based alternative investment management platform eFront for $1.3 billion last week.

BlackRock's latest technology deal comes with a big price tag - $1.3 billion - but not much surprise for those watching the company. Instead, the acquisition underscores how the $6 trillion company has been positioning itself as more than just a money manager. on the heels of strong demand for investment management platform Aladdin and digital wealth technologies.As asset management growth grinds to a halt, firms have to get creative. Here are the 3 avenues analysts say will best boost revenue.

But the eFront buy does further the company's technology ambitions, he said. BlackRock has evolved from a traditional money manager to a technology platform for institutional investors and those advising individuals. At a recent investor dinner, BlackRock chief executive Larry Fink and chief financial officer Gary Shedlin said the firm's top three growth areas are technology, retirement solutions, and alternatives, according to Morgan Stanley analysts.

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