30 August 2016
Find out more

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

19 September 2005  |  9786 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  |  10689 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  |  5130 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  |  3971 views  |  0 comments

Related company news

 

Related company information

JPMorgan Chase

Related blogs

Create a blog about this story (membership required)
Find out moreVisit VocaLink.comVisit equens.com

Top topics

Most viewed Most shared
India's Unified Payments Interface goes live with 21 banksIndia's Unified Payments Interface goes li...
9258 views comments | 23 tweets | 26 linkedin
R3 blockchain consortium sheds light on Concord projectR3 blockchain consortium sheds light on Co...
6700 views comments | 14 tweets | 14 linkedin
Cultural change crucial in digital transformationCultural change crucial in digital transfo...
6666 views comments | 11 tweets | 10 linkedin
Mondo becomes MonzoMondo becomes Monzo
6415 views comments | 14 tweets | 9 linkedin
hands typing furiouslyBlockchain: Some Remarkable Announcements!
6104 views 0 | 5 tweets | 14 linkedin

Featured job

Find your next job