NYSE Buys Fixnetix Stake After Deutsche Boerse Deal Fails
22.05.12
(Updates with price paid for stake in second paragraph.)
Feb. 16 (Bloomberg) -- NYSE Euronext, two weeks after its takeover by Deutsche Boerse AG was blocked, is planning an acquisition of its own.
The operator of the New York Stock Exchange agreed to buy 25 percent of London-based Fixnetix, a provider of trading services, with the option to purchase the entire company during the next three years, according to an e-mailed statement. Eric Ryan, a spokesman for NYSE Euronext, confirmed that the company paid 17.5 million pounds ($27.5 million) for the stake.
The deal gives NYSE Euronext ties to a business that brings together data, software and tools from multiple vendors so firms can access markets more rapidly, Stanley Young, chief executive officer of NYSE Technologies, said in a phone interview. While NYSE Technologies and Fixnetix already compete for business, the NYSE unit offers services that combine only its own data and products and not those from other companies. NYSE also offers access and connectivity to markets globally.
Source: BusinessWeek