Intercontinental Exchange (ICE) has continued its recent string of acquisitions by securing the purchase of Interactive Data Corporation (IDC) in a deal worth $5.2 billion.
The agreement follows other major acquisitions for ICE which also bought NYSE for $8.2 billion in 2012, The Singapore Mercantile Exchange for $130 million in 2013 and data company SuperDerivatives in October 2014 for $350 million.
The deal, which was unanimously approved by boards of both companies, is broken down into $3.65 billion in cash alongside $1.55 billion in ICE common stock. ICE will purchase the financial market data provider from Silver Lake and Warburg Pincus.
ICE Chairman Jeffrey Sprecher said, “This transaction furthers our expansion into meeting the financial information needs of our market participants globally.
“With IDC as the cornerstone in the next phase of extending our services, we will build on our track records of solid execution on integration and innovation by focusing on the needs of our customers in the evolving data services marketplace.”
Based in Bedford,Massachusetts, IDC provides financial data to a range of buy-side institutions.
“Today’s announcement marks the next step in an exciting journey for IDC,” said Stephen Daffron, CEO of IDC
“With ICE, we have the long-term capital, strategic support and collective set of relationships to further grow our company and evolve our platform in the rapidly-changing capital markets landscape.”