(Reuters) – TMX Group, the proprietor of the Toronto Inventory Trade, mentioned on Wednesday it had acquired an round 78% stake in U.S. information analytics firm VettaFi Holdings for $848 million (C$1.14 billion).
In January, the group took a 21% stake within the New York Metropolis-based agency, which values the whole deal at $1.03 billion.
The deal can be financed by way of financial institution debt of as much as $1 billion in time period loans, and can add to TMX’s adjusted earnings per share within the first yr of the deal, excluding synergies, the corporate mentioned in a press release.
“From a strategic standpoint, this acquisition accelerates TMX’s long-term world enlargement, and will increase the proportion of income derived from our World Options, Insights and Analytics division, and from recurring sources,” mentioned John McKenzie, CEO of TMX Group.
As a part of the deal, the operator can even assume $100 million of VettaFi’s debt.
VettaFi offers a database of exchange-traded funds (ETFs), analytics and indices, and the change operator’s analytics enterprise.
(1 Canadian greenback = $0.7422)