Interactive Data Corporation has signed an asset purchase agreement to acquire FutureSource, a provider of real-time futures, options and cash price data and analysis, for $18m in cash.
FutureSource provides traders, brokers and risk managers with futures, options and cash price data, news, and charting analysis tools through a package networked, stand-alone and Internet delivery platforms.
The company generated revenue of approximately $20.2m in 2003 with cost of services, and selling, general and administrative expenses totalling approximately $18.1m.
Headquartered in Illinois, the vendor also has sales and support offices in Europe, Australia and Latin America and employs approximately 135 people worldwide.
Following the acquisition, Interactive Data will combine FutureSource's products and services with its California-based eSignal division. Chuck Thompson, president of eSignal, will be responsible for the daily operations of the combined business, which will maintain a strong presence in the Chicago area.
Stuart Clark, president and CEO, Interactive Data, comments: "This acquisition enables us to quickly and cost-effectively pursue attractive growth opportunities as a business and information provider to the futures brokerage industry.
"With broad global coverage of futures and commodities data from FutureSource, we plan to strengthen and broaden our eSignal offerings while providing FutureSource customers and prospects with the opportunity to leverage additional content from the Interactive Data family."