The London Stock Exchange has signed a definitive agreement to pay Pearson ?450 million in cash to buy the 50% stake in FTSE International that it does not already own.
The acquisition of FTSE diversifies the exchange's business into indices, data and analytics and, in particular, creates new growth opportunities for its listed derivatives trading business, a strategic priority. It will increase access to buy-side firms and services and will offer an enhanced global footprint, including key emerging and growth markets, the exchange said in a statement.
Since it was established in 1995 as a joint venture between the LSE and Financial Times Group, part of the Pearson organisation, FTSE has grown rapidly and now offers a broad and international suite of products and services. The company has a diversified revenue mix, with approximately 60% of total revenues generated from recurring data subscriptions and the remainder derived from licence fees from asset managers.
Source: http://www.bankingtech.com/bankingtech/article.do?articleid=20000217521
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