Wednesday 09.11.2005 15:30 pm
Interactive Data Corporation to Acquire IS.Teledata AG
IS.Teledata AG will be the Provider of Managed Financial Data Solutions within Interactive Data
FRANKFURT - The majority shareholders of privately held IS.Teledata AG have today signed an agreement for selling the company and its subsidiaries to Interactive Data Corporation, Bedford, Mass., USA (NYSE: IDC). Interactive Data Corporation, a leading provider of financial market data and analytic tools to institutional investors, active traders and individual investors, will acquire up to 100 percent of the shares for a purchase price of 48.5 Million Euro in cash. Interactive Data will hold at least 95 percent of the shares of Europe's largest provider of customisable financial market data information systems. The transaction is still subject to several closing conditions including regulatory approvals and obtaining at least 95 percent approval from IS.Teledata AG's shareholders, but is expected to be completed by the end of the fourth quarter 2005.
Upon completion of the transaction, IS.Teledata will be managed as a business within Interactive Data Corporation as part of ComStock, Interactive Data's real-time datafeed business. IS.Teledata and ComStock have had a successful strategic alliance since 1997, with ComStock providing real-time content to the majority of IS.Teledata customers in Europe. ComStock has also been reselling IS.Teledata products in North America on a private label basis.
Stephan Wolf, spokesman of the executive board of IS.Teledata comments: "We have decided to take this step in order to make the most of the opportunities that the market for financial information systems currently provides. IS.Teledata and ComStock complement each other perfectly. While ComStock is a leading real-time content provider, IS.Teledata is focused on the development and hosting of customised financial market data solutions. Together we want to enhance our client offerings and increase company growth."
"Acquiring IS.Teledata will help us achieve several strategic objectives," stated Stuart Clark, Interactive Data's president and chief executive officer. "Firstly, IS.Teledata will provide us with a valuable and established set of offerings that will help us break into new markets and allow customers to better use our content while lowering their operating costs. Secondly, we will gain a stronger customer footprint across continental Europe through which we can deliver a broader portfolio of content and analytical tools designed for local marketplaces. Thirdly, we believe that IS.Teledata will serve as a valuable product innovation engine for our European operations, enabling us to advance our services in new and exciting directions."
"Acquiring IS.Teledata is a natural extension of the strong relationship that ComStock and IS.Teledata have developed during the past eight years," stated Mark Hepsworth, president of ComStock. "Now we have an exciting opportunity to link the broad capabilities of the Interactive Data family of businesses with the proven aggregation strengths of IS.Teledata. This combination will allow us to offer enterprise-wide solutions to our customer base, and further leverage the breadth and depth of our global distribution channels."
IS.Teledata AG
IS.Teledata AG is Europe's largest Managed Solutions Provider of customisable financial market information systems. About 200 retail banks, private banks, investment banks, issuers, asset managers, online brokers and media portals optimise business processes and costs using tailored content and interactive analysis of financial market data. IS.Teledata aggregates data from all asset classes and in-house content and integrates them into modular Internet and intranet applications and terminal solutions. Employees and customers of financial service providers thus benefit from relevant information and specific functionality in easy-to-use interfaces. IS.Teledata AG has 250 corporate employees in seven European countries.
ComStock
ComStock, a subsidiary of Interactive Data Corporation, is a leading provider of real-time global financial information to financial institutions, financial information re-distributors and online media portals worldwide. ComStock's suite of services ranges from a real-time datafeed, to fully customized and hosted market data solutions.
Interactive Data Corporation
Interactive Data Corporation is a leading global provider of securities pricing, financial information, and analytic tools to institutional and individual investors. The Company supplies time-sensitive pricing (including evaluated pricing), dividend, corporate action, and descriptive information for more than 3.5 million securities traded around the world, including hard-to-value instruments. Many of the world's best-known financial services and software companies subscribe to the Company's services in support of their trading, analysis, portfolio management, and valuation activities. Interactive Data Corporation is headquartered in Bedford, Massachusetts.
Through its branded businesses, FT Interactive Data, ComStock, CMS BondEdge, and eSignal, Interactive Data Corporation has approximately 1,800 employees in offices located throughout North America, Europe, Asia, and Australia. Pearson plc (NYSE: PSO), an international media company, whose businesses include the Financial Times Group, Pearson Education, and the Penguin Group, owns approximately 60 percent of the outstanding common stock of Interactive Data Corporation.
The FT Interactive Data business includes FT Interactive Data Corporation, a Delaware corporation. The ComStock business includes ComStock, Inc., a New York corporation.
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