23 October 2017
Find out more

Interactive Data looks for growth in Japan with NTT Data stake

19 November 2008  |  5169 views  |  0 Financial numbers

Interactive Data is to acquire a majority 64% stake in Tokyo-based reference data outfit NTT Data Financial (NDF) from NTT Data Corp for $20.2 million.

Interactive Data and NDF have been partners in a re-distribution relationship in Japan for more than 14 years, providing local financial institutions with global end-of-day securities pricing, evaluations and reference data, including portfolio valuation and accounting.

NDF generated revenue for the fiscal year ended 31 March, 2008 of approximately $11.7 million with operating expenses of approximately $8.8 million, which includes depreciation and $4.4 million in royalties payable to Interactive Data Corporation.

The deal is expected to close by the year-end, at which point NTT DATA Corporation will retain a 10% interest in NDF. At that time, minority shareholders, who collectively own 26% of NDF, will also be able to tender their shares. Interactive Data says it plans to acquire the remaining equity of NDF over the coming years, at an agreed purchase price of $11.4 million in cash.

Interactive Data says the deal will open a new market in Japan for the sale of additional market data products, including fixed income analytics, valuations of complex financial instruments and indicative valuations of exchange-traded funds (ETFs) and other related structures. After the transaction is closed, Interactive Data plans to change the name of NDF to Interactive Data Japan KK.

James Farrer, managing director of Interactive Data Asia-Pacific, says: "Moving from a distributor model to an ownership model in Japan is an important milestone for us. Financial institutions are focused on driving efficiencies in financial operations across their front, middle and back offices while remaining compliant with evolving regulations. Interactive Data plans to build on NDF's strengths...to expand the range of content and services that we can provide to Japanese financial institutions."

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

Finextra50 rises 2.3% led by Ingenico and Interactive Data

Finextra50 rises 2.3% led by Ingenico and Interactive Data

24 September 2007  |  2692 views  |  0 comments
Interactive Data pays $25.3m for Xcitek market data assets

Interactive Data pays $25.3m for Xcitek market data assets

04 April 2007  |  7038 views  |  0 comments
Interactive Data acquires Quote.com from Lycos

Interactive Data acquires Quote.com from Lycos

02 February 2006  |  4610 views  |  0 comments
Interactive Data advances in Europe with IS.Teledata acquisition

Interactive Data advances in Europe with IS.Teledata acquisition

09 November 2005  |  7989 views  |  0 comments

Related company news

 

Related company information

Interactive Data

Related blogs

Create a blog about this story (membership required)
Register nowvisit www.atos.net

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
19723 views comments | 31 tweets | 43 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
15272 views comments | 23 tweets | 32 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
11019 views comments | 12 tweets | 23 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
9123 views comments | 15 tweets | 29 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job