30 May 2016
Find out more

ITG to buy JPMorgan's Plexus unit for $12m

19 September 2005  |  9639 views  |  0 hand shake (M&A)

Investment Technology Group (ITG), a New York-based provider of technology-based equity trading services, has signed a definitive agreement to acquire Plexus Group, a supplier of transaction cost analysis (TCA), trade research and consulting services, from JPMorgan Chase for $12 milllion in cash.

JP Morgan Chase originally acquired Los Angeles-based Plexus in August 2002.
The group's TCA, trade research and consulting services are used by over 200 financial institutions, including investment managers, pension plan sponsors and brokerage firms.

Plexus' revenues in 2004 were approximately $11 million. In 2005, revenues are expected to remain at the same levels and the business is expected to break even.

Ray Killian, ITG's chairman, president and CEO, says the acquisition expands ITG's client base into the plan sponsor and sell-side customer segments in the US and Europe.

He says the deal will allow ITG to "provide a comprehensive transaction cost analysis solution to a wider marketplace".

The transaction is expected to close within 120 days.

ITG shares rose 32 cents, or 1.10%, to $29.34 on the news.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

ITG to buy Macgregor for $230m

ITG to buy Macgregor for $230m

13 July 2005  |  10556 views  |  0 comments
ITG agrees $90 million downpayment on Morgan Stanley Posit stake

ITG agrees $90 million downpayment on Morgan Stanley Posit stake

16 December 2004  |  5066 views  |  0 comments
JP Morgan Chase aims for TCA with Plexus, Inalytics deals

JP Morgan Chase aims for TCA with Plexus, Inalytics deals

22 August 2002  |  3920 views  |  0 comments

Related company news


Related company information

JPMorgan Chase

Related blogs

Create a blog about this story (membership required)
Find out moreFind out moreVisit www.abe-eba.eu

Top topics

Most viewed Most shared
Barclays opens sandbox for gamification challengeBarclays opens sandbox for gamification ch...
15599 views comments | 41 tweets | 40 linkedin
Santander taps Ripple blockchain tech for international payments appSantander taps Ripple blockchain tech for...
8420 views comments | 32 tweets | 38 linkedin
London law firm sets up fintech fund to provide free legal advice to startupsLondon law firm sets up fintech fund to pr...
8096 views comments | 21 tweets | 9 linkedin
Deloitte launches financial services blockchain labDeloitte launches financial services block...
7419 views comments | 23 tweets | 13 linkedin
Thieves steal Y1.4 billion in two hours from cash machines in JapanThieves steal Y1.4 billion in two hours fr...
7160 views comments | 17 tweets | 34 linkedin

Featured job

Paris - France or Brussels - Belgium

Find your next job