18 August 2017
visit www.avoka.com

First Derivatives acquires the Reference Data Factory

26 October 2009  |  7415 views  |  0 handshake

First Derivatives has acquired New Jersey-based data management outfit the Reference Data Factory for an initial consideration of $2.5 million, with an additional $7.5 million reserved for earn-out provision.

Founded in 2004, with offices in New York & Toronto, RDF's principals established the firm after successfully developing the GoldenSource product.

RDF's software manages and distributes security master and securities reference data for financial institutions and is currently in use in several Wall Street banks and other related entities such as Fitch Ratings.

First Derivatives says the RDF product suite will be incorporated into its Delta algorithmic trading software platform.

The initial consideration will be satisfied by a cash payment of $2.0m and an additional $0.5m in First Derivative shares. The remaining earn-out will be paid in cash over a three-year period according to sales.

In addition, each of RDF's four directors will receive performance-based share options up to a maximum of 400,000 shares in First Derivatives' stock.

As part of the acquisition, Dale Richards, CEO of LakeFront Data Ventures and Board Member of RDF joins the advisory board of First Derivatives.

The acquisition of RDF completes a busy month for First Derivatives, which recently acquired a further 15% interest in Californian analytical database vendor Kx Systems for $7.5 million.

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

First Derivatives boosts Kx Systems stake; posts H1 profit rise

First Derivatives boosts Kx Systems stake; posts H1 profit rise

19 October 2009  |  6803 views  |  0 comments
First Derivatives buys US marketing outfit MRP

First Derivatives buys US marketing outfit MRP

15 September 2008  |  5657 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.dorsum.euvisit www.niceactimize.com

Top topics

Most viewed Most shared
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7144 views comments | 18 tweets | 22 linkedin
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
7025 views comments | 21 tweets | 22 linkedin
hands typing furiouslyWhy Blockchain Might Not Be The Future For...
5894 views 1 | 5 tweets | 3 linkedin
Apple sidelined as Beijing transit system launches payments appApple sidelined as Beijing transit system...
5718 views comments | 11 tweets | 9 linkedin
hands typing furiouslyA Bitcoin and Blockchain payment system
5528 views 0 | 6 tweets | 2 linkedin

Featured job


Brussels or Frankfurt

Find your next job