24 January 2018
visit www.ebaday.com

Interactive Data agrees $3.4bn sale

04 May 2010  |  6906 views  |  0 handshake

Interactive Data says it has inked a definitive agreement to be acquired by private equity firms Silver Lake and Warburg Pincus in a cash deal worth around $3.4 billion.

Pearson has also issued a statement confirming it has agreed to sell its 61% stake in the market data provider, netting the Financial Times owner around $2 billion.

Under the agreement, Interactive Data stockholders will receive $33.86 a share, a premium of about 32.9% on the closing price on 14 January, the last trading day before the firm revealed it was looking at "strategic alternatives".

Pearson acquired its controlling stake in Interactive Data in 2000 but confirmed moves were afoot to find a buyer in January. At the time several private equity groups, as well as rival data providers McGraw-Hill and Thompson Reuters, were cited as potential bidders.

Ray D'Arcy, president and CEO, Interactive Data, says: "Pearson has been a valuable, supportive partner to Interactive Data over the years as we expanded our business globally. Transitioning our ownership structure will mark an exciting, new chapter in Interactive Data's development. With the backing of Silver Lake and Warburg Pincus, we look forward to accelerating our momentum and further enhancing our capabilities, delivery platforms and technical infrastructure.

Joe Osnoss, MD, Silver Lake, adds: "Silver Lake and Warburg Pincus both have significant experience investing in market-leading companies at the intersection of financial services and technology. Interactive Data is particularly well-positioned as a global financial technology growth platform, and we expect a strong partnership between our firms and Interactive Data's customers and employees in pursuing this opportunity."

The deal is expected to be completed by the end of the third quarter, following regulatory approvals and other customary closing conditions.

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

Pearson confirms Interactive Data considering sale

Pearson confirms Interactive Data considering sale

15 January 2010  |  8323 views  |  0 comments
Interactive Data acquires 7Ticks; creates new real-time trading unit

Interactive Data acquires 7Ticks; creates new real-time trading unit

14 December 2009  |  5927 views  |  0 comments
Interactive Data to buy Online Financial Solutions assets from Dow Jones

Interactive Data to buy Online Financial Solutions assets from Dow Jones

24 November 2009  |  7332 views  |  1 comments
Interactive Data to buy Merrill Lynch pricing service

Interactive Data to buy Merrill Lynch pricing service

02 January 2002  |  3575 views  |  0 comments

Related company news


Related company information

Interactive Data

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.fivedegrees.nlvisit www.thomsonreuters.info

Top topics

Most viewed Most shared
Banks shift priorities toward growth, digitisation and innovation - surveyBanks shift priorities toward growth, digi...
9829 views comments | 38 tweets | 48 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
9512 views comments | 14 tweets | 14 linkedin
Sbanken opens developer portal and invites customers to build their own digital bankSbanken opens developer portal and invites...
8548 views comments | 17 tweets | 11 linkedin
Could distributed ledgers restore the reputation of the MBS market?Could distributed ledgers restore the repu...
7061 views comments | 6 tweets | 9 linkedin
Metro Bank joins digital revolution with instant online account openingMetro Bank joins digital revolution with i...
7044 views comments | 13 tweets | 25 linkedin

Featured job

Germany, Austria or Switzerland

Find your next job