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S&P's Capital IQ Acquires TheMarkets.com Research and Estimate Models

The combined companies will deliver a complete investment management research offering to the buy side.

The deal also expands Capital IQ’s customer base into the mutual fund space, top asset management firms and global hedge funds. Key clients of The Markets.com include: MFS Investment management, ING Investment Management, Pioneer Investment Management and Oppenheimer Funds. “They have 2,400 clients and there’s relatively limited user overlap in (our) customer business,” said Winn.

While terms of the all-cash deal, which closed on Monday, were not disclosed, Winn said the reason for the sale by the owners was more strategic than economic.

Seven big banks collaborated to form TheMarkets.com and then five more banks joined as well as Thomson Reuters in 2007. At the time of sale, the owners of TheMarkets.com were major sell-side firms including BofA Merrill Lynch, Citi, Credit Suisse, Deutsche Bank, The Goldman Sachs Group, JP Morgan Chase, Morgan Stanley, UBS Investment Bank and Thomson Reuters.

Winn declined to comment on the reason why the owners sold the company, but suggested they were looking for a strategic partner to distribute their research. “TheMarkets.com was started to solve a problem. They wanted to make sure their brokerage research was made available to clients in the best way. A primary concern of the shareholders was to find a partner to increase the utility of their content to the buy side,” said Winn. “From our side, it expands the potential customer footprints and helps us serve customers more effectively,” said Winn. The teams from both companies have already been combined and David Eisner, CEO of The Markets.com, has agreed to stay on as senior integration advisor through the end of this year.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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