Interactive Data Corporation

Interactive Data Corporation

Type	Private
Industry	Financial services
Founded	1968
Headquarters	Bedford, Massachusetts, USA
Key people	Mason Slaine, Chairman Stephen Daffron, President and CEO Jay Nadler, COO
Revenue	$867.7 million (2011)[1]
Owner	Intercontinental Exchange
Number of employees	Approximately 2,500 worldwide
Website	www.interactivedata.com

Interactive Data Corporation is an American company that provides financial market data (financial data vendor), analytics and related solutions to financial institutions, active traders and individual investors. The company’s businesses supply real-time market data, time-sensitive pricing, evaluations and reference data for securities trading, including hard-to-value instruments.

The company announced on 29 July 2010 the completion of its acquisition by two private equity funds, Warburg Pincus and Silver Lake Partners, for $33.86 per share or $3.4 billion in an all-cash transaction.^[2] Previously, the UK's Pearson PLC owned 61% of the company.^[3] On December 15th, 2015, Warburg Pincus and Silver Lake Partners sold Interactive Data Corporation to Intercontinental Exchange for $5.2 billion.

History

Founded in 1968, Interactive Data is a supplier of financial market data and related offerings. Acquisitions have contributed to Interactive Data’s growth, enabling the company to deliver an increasing range of services, while expanding into adjacent markets and extending its reach geographically.

Products

Interactive Data provides evaluation services, reference data, pricing services, derivatives services, Fair Value Information Services, low latency market data, trading infrastructure services, fixed income analytics, Web-based solutions, desktop solutions, the eSignal suite of products, and environmental, social and corporate governance (ESG) data including quantitative ESG risk indicators for individual companies and sectors (current figures as well as historical data for the past two years) provided by RepRisk, a global business intelligence provider specialized in ESG risk analytics and metrics. Interactive Data supports clients around the world with mission-critical functions, including portfolio valuation, regulatory compliance, risk management, electronic trading and wealth management. ^[4]

Mergers and Acquisitions

Intercontinental Exchange, Inc. (ICE)

In October 2015, Intercontinental Exchange announced that it had entered into a definitive agreement to acquire Interactive Data Corporation (IDC) from private equity firms Silver Lake Group LLC and Warburg Pincus LLC. The acquisition is valued at approximately $5.2 billion, including $3.65 billion in cash and $1.55 billion in ICE common stock, and builds on ICE’s global market data growth strategy by expanding the markets served, adding technology platforms and increasing new data and valuation services. Completion of the transaction was subject to regulatory approval and other customary closing conditions. The transaction closed on December 14, 2015.

References