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ICE completes Wombat Financial sale to SR Labs

24 July 2014  |  1391 views  |  0 Source: Intercontinental Exchange

Intercontinental Exchange (ICE), the leading global network of exchanges and clearing houses, announced today that it has completed its previously announced transaction with SR Labs for the sale of the Wombat Financial Software, a unit of NYSE Technologies. The transaction closed today and terms were not disclosed.

"I'd like to thank the SR Labs and Intercontinental Exchange teams for working so quickly and diligently to finalize this transaction within just six weeks of contract signing," said Ben Jackson, President and Chief Operating Officer, ICE Futures U.S. and President, NYSE Technologies. "We congratulate everyone involved and we will continue to provide support services to SR Labs for a period of time to help ensure an orderly transition of the business."

Wombat is a global leader in high performance financial market data management solutions. As part of the Wombat product suite, SR Labs is also acquiring SuperFeed, which offers direct connectivity to a range of key global trading venues, reducing complexity and client overhead by allowing customers to consolidate fragmented technologies and complicated connectivity options. The Wombat platform also includes Wombat Direct Market Data Feed Handlers, providing normalization for more than 200 direct exchange and aggregated vendor feeds; DART Entitlements, providing market data usage and compliance analysis, and reporting services; and Wombat Middleware, enabling high-speed, multi-protocol messaging throughout the enterprise.

Evercore acted as financial advisor and Shearman & Sterling LLP acted as legal advisor to Intercontinental Exchange on this transaction.

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