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| Interactive Data to Acquire Online Financial Solutions Assets from Dow Jones & Company |
Acquisition Will Further Expand the Company’s Web-Based Solutions Business
The OFS data and tools are used to develop and host Web-based solutions,
including news, market data, research and advanced charting, portfolio
management and alerting capabilities, for approximately 200 financial
institutions, active investor services, and media Web portals. These OFS
assets were formerly part of MarketWatch Licensing Services prior to the
acquisition of
“We believe that acquiring these OFS assets will further accelerate the progress we’ve made over the past several years to rapidly grow our Web-based solutions business in North America,” stated Ray D’Arcy, Interactive Data’s president and chief executive officer. “We see attractive opportunities for us to further expand OFS’s business with its institutional customers by offering them a much broader range of services and solutions. In addition, this acquisition will bring us valuable development and support resources that can help us further scale this part of our business.”
Assuming the transaction closes within the next several weeks,
Interactive Data Corporation Forward-looking and Cautionary Statements
This press release contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995 and
Federal securities laws, and is subject to the safe-harbor created by
such Act and laws. Forward-looking statements include our statements
discussing future financial conditions, results or projections,
including statements relating to (i) the anticipated impact of the OFS
acquisition on our business, including any impact on our earnings and
cash flow, (ii) the anticipated timing of the closing, (iii) our plans
to broaden the OFS customer relationships by marketing additional
products and services to OFS customers, (iv) our plans to migrate OFS
into the Interactive Data Managed Solutions technical infrastructure,
and (v) our plans to combine OFS and Interactive Data Managed Solutions
to achieve operational synergies and revenue growth, including the
acquisition being accretive to earnings by 2011. These statements are
subject to known and unknown risks, uncertainties, assumptions, and
other factors that may cause actual results to be materially different
from those contemplated by the forward-looking statements. Such factors
include: the acquisition may not close on a timely basis or at all; we
may not be successful in our efforts to integrate the OFS assets into
our business, including that we may not be able to obtain the consent of
all OFS customers to the assignment of their OFS contacts by the Seller
to us; and we may not be able to retain key employees of OFS. Other
factors include, but are not limited to: (i) the presence of competitors
with greater financial resources than ours and their strategic response
to our services and products; (ii) a possible decline in activity levels
in the global securities markets; (iii) new offerings by competitors or
new technologies that could cause our products or services to become
less competitive or obsolete; and (iv) other factors identified in our
most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q
filed with the
About
Interactive Data’s Managed Solutions business is a leading provider and operator of customized financial information systems. The group builds and manages Web-based financial market data portals and terminals for a range of organizations worldwide, from retail and investment banks to asset managers, online brokers, stock exchanges and media portals. By aggregating a broad set of financial data and client-proprietary content and offering visually stunning features such as charts, sophisticated search functions, decision-support tools and analytics, these intuitive applications can help customers optimize their business processes and realize efficiencies. This group is managed as part of the Interactive Data’s Real-Time Services business, which provides a comprehensive suite of offerings that includes PlusFeed SM, a consolidated, low-latency digital datafeed.
For more information about
Source:
Interactive Data Corporation
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