Atlanta-based Intercontinental Exchange (ICE) is on the acquisition trail again, with a deal to buy global analytics firm SuperDerivatives for US$350 million in cash.
ICE says that the acquisition of SuperDerivatives, which provides risk management analytics, financial market data and valuation services, will accelerate the expansion of its comprehensive multi-asset class clearing strategy.
“SuperDerivatives is an innovative developer of valuable derivatives data and technology, and will play a key role in extending our financial market clearing and data capabilities. We already work with SuperDerivatives in our existing businesses and we look forward to extending that work with the global SuperDerivatives team as we grow our risk management services across our global exchanges and clearing houses,” said Jeffrey Sprecher, chairman and CEO of ICE.
The deal, which has the unanimous approval of SuperDerivatives’ board, has also been approved by its shareholders, but still requires regulatory approval and is subject to other customary closing conditions. The transaction is expected to close in the fourth quarter of 2014.
“We believe that joining with ICE opens a tremendous opportunity for us to deliver our innovative products and services across the globe,” said David Gershon, chairman and CEO of SuperDerivatives. “Over the past few years ICE has taken the lead in shaping the evolution of the financial markets. We strongly believe that with the data, technology and the broad suite of products SuperDerivatives offers there are great benefits we can deliver to the market including efficiency, transparency and innovation.”