Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics and related services to financial institutions, active traders and individual investors, today announced the closing of its acquisition of Kler's Financial Data Service S.r.l. (Kler's), a leading provider of reference data to the Italian financial industry, for a purchase price of €19.0 million (or approximately $29.6 million based on current exchange rates) in cash.
The final purchase price remains subject to post-closing working capital adjustments.
The acquisition of Kler's represents an important element in Interactive Data's strategy to expand its reference data services and to continue increasing its presence across continental Europe. Kler's, which is based in Rome, provides comprehensive, high-quality reference data, including corporate actions and taxation information, on Italian and international securities, with coverage of equities, listed and unlisted Italian bonds, funds, simple derivatives and warrants. The company's clients include most major Italian banks and custodians. Kler's services, which will be will marketed in Italy as Interactive Data Kler's, are available as a downloadable datafeed for back-office applications or via an online browser that enables clients to search, design reports and perform analysis.
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