Interactive Data Corporation, a provider of financial market data, analytics and related solutions, has signed an agreement to acquire 7ticks, LLC, a provider of electronic trading networks and managed services, for $30 million in cash. The transaction is expected to be completed in early 2010.
In a prepared statement, Interactive Data said the acquisition represents an important element in the company's "strategy to address the latency sensitive trading needs of its institutional customers." The acquistion will accelerate Interactive Data’s plans to increase the flexibility, agility and resiliency of its network infrastructure, thereby supporting a broader range of high-quality direct exchange access and consolidated datafeed services, according to Interactive Data.
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