Interactive Data Corporation, a provider of financial market data, analytics and related solutions, will be bought by Silver Lake and Warburg Pincus for $3.4 billion.
Completion of the transaction is expected to occur by the end of the third quarter of 2010, following regulatory approvals and other customary closing conditions.
This transaction enables Interactive Datas shareholders to realize substantial value and provides the company with partners who are committed to supporting its global expansion, says Rona Fairhead, chairman of Interactive Datas board of directors. Interactive Data has an outstanding team of more than 2,400 people and the Board thanks them sincerely for their skill and commitment in serving our customers and building the Company over many years. With the support of Silver Lake and Warburg Pincus, I am confident that Interactive Data will take full advantage of its strong market position and the changes in technology and regulations that are shaping its industry.
Following the completion of the transaction, Interactive Data will remain headquartered in Bedford, Massachusetts and will continue to be led by its senior management team.
The transaction has fully committed financing, consisting of a combination of equity to be invested by Silver Lake and Warburg Pincus and debt financing to be provided by Bank of America Merrill Lynch, Barclays Bank PLC, Credit Suisse Securities (USA) LLC and UBS Investment Bank. Silver Lake and Warburg Pincus are equal equity partners in the deal.
D.C.