JPMorgan Sells Plexus to ITG
JPMorgan has entered into an agreement to sell Plexus, a provider of technology-based equity trading services and transaction research, to ITG. The all-cash deal is valued at approximately $12 million. Plexus' revenues last year were approximately $11 million. According to an ITG release, "Plexus and ITG clients will benefit from a more comprehensive transaction cost analysis product offering." The acquisition also expands ITG's client base into the plan sponsor and sell-side customer segments in the United States and Europe, the release notes. Plexus' customers consist of more than 200 financial institutions.