Interactive Data is to spend $30 million cash to acquire Quotes Inc from Web portal Lycos and integrate the business with its eSignal financial Internet subsidiary.
Through the acquisition, Interactive Data will add the subscription-based QCharts and LiveCharts real-time streaming data and analytics services for active traders, as well as Quote.com, a financial news and analysis Web site, and RagingBull.com, an online investment community and message board site.
When added to eSignal’s MarketCenter.com and FutureSource.com, the combined set of Web sites will generate an aggregate of 196 million page views per month. LiveCharts and QCharts will add an additional 14,500 direct subscribers to eSignal's 46,000 subscription terminals.
Chuck Thompson, eSignal president comments: "By uniting the financial Web sites from Quote.com and eSignal, we can create a compelling online destination for the millions of people who rely on the Internet for global financial markets information and the advertisers that target this audience."
Quote.com, which currently employs approximately 30 people, made $3.2 million profits on revenue of $12.7 million in 2005. Upon completion of the transfer, David Kim, Quote.com’s general manager, will continue to oversee the business, reporting directly to eSignal's Thompson.