Intercontinental Exchange (ICE) has continued its expansion, entering into a definitive agreement for an all-cash, approximately $350 million acquisition of SuperDerivatives, a provider of risk management analytics, financial market data and valuation services.
SuperDerivatives’ board of directors unanimously approved the deal, and its shareholders also gave approval for the transaction, which now awaits regulatory confirmation and other customary closing conditions. The transaction is expected to close in the fourth quarter of 2014, and ICE says it will report relevant guidance in its quarterly earnings announcement on November 4.
“SuperDerivatives is an innovative developer of valuable derivatives data and technology, and will play a key role in extending our financial market clearing and data capabilities,” says Jeffrey Sprecher, chairman and CEO of ICE. “We already work with SuperDerivatives in our existing businesses and we look forward to extending that work with the global SuperDerivatives team as we grow our risk management services across our global exchanges and clearing houses.”
“Over the past few years ICE has taken the lead in shaping the evolution of the financial markets,” says David Gershon, chairman and CEO of SuperDerivatives. “We strongly believe that with the data, technology and the broad suite of products SuperDerivatives offers there are great benefits we can deliver to the market including efficiency, transparency and innovation. We believe that joining with ICE opens a tremendous opportunity for us to deliver our innovative products and services across the globe.”
ICE to Acquire SuperDerivatives for $350 Million
Intercontinental Exchange (ICE) has continued its expansion, entering into a definitive agreement for an all-cash, approximately $350 million acquisition of SuperDerivatives, a provider of risk management analytics, financial market data and valuation services.