03:05 PM
Electronic Trading Newsflashes
Interactive Data Acquires FutureSource
Interactive Data Corporation (IDC), based in Bedford, Mass., has signed an agreement to acquire FutureSource and its subsidiaries for $18 million in cash. The acquisition is expected to close during the third quarter of 2004, pending regulatory approvals.
Headquartered in Lombard, Illinois, FutureSource provides global coverage of futures, options, and cash price data, news and charting analysis tools through a series of networked, stand-alone and Internet delivery platforms to traders, brokers and risk managers.
IDC, a leading global provider of securities pricing, financial information and analytic tools, plans to combine FutureSource's products and services into its eSignal division, headed by Chuck Thompson, President of eSignal, which is based in Hayward, Calif.
"The acquisition of FutureSource will enhance, expand and complement our eSignal division. It enables us to quickly and cost-effectively pursue attractive growth opportunities as a business and information provider to the futures brokerage industry," stated Stuart Clark, President and CEO of Interactive Data, in a press release regarding the acquisition.