HyperFeed Technologies is selling off the individual retail trading unit of its subsidiary PCQuote.com to market data vendor Money.net. The deal includes PCQuote.com's financial analytics engine Marketscreen.com.
Under the deal, Money.net will pay HyperFeed in a hybrid transaction including cash and increased exchange information revenue over the next four years.
HyperFeed will retain the portion of PCQuote.com that delivers streaming real-time quote objects over customer's Web sites and Money.net will acquire the PCQuote.com Web site and retail trading applications.
HL Van Arnem, CEO of Money.net, says: "This strategic acquisition completes our product offering, which extends from the market watcher to the active market participant."
Paul Pluschkell, HyperFeed's president and CEO, says the deal allows the firm to focus efforts on its Managed Exchange Platform Services (MEPS) product.
"The sale also moves us closer to profitability by allowing us to continue generating revenue from PCQuote.com customers for our exchange services, a component of our MEPS, while relieving us of the overhead of servicing retail-based customers," says Pluschkell.