Following the announcement of its intention to buy 79% of NTT Data Financial Corporation (NDF) in November, Interactive Data Corporation has finally announced the initial closing of its acquisition. The vendor paid approximately 2.4 billion yen, or approximately US$25.8 million based on current foreign exchange rates, in cash to acquire 79% of NDF, of which 64% was purchased from NTT Data Corporation and 15% from certain minority shareholders.
The acquisition of the Japanese company is part of the vendor’s efforts to increase its presence in the Asia Pacific region. Based in Tokyo, NDF is a provider of securities pricing, reference data and related services to Japanese banks, asset and funds management companies, insurance companies, custody banks, trust banks and securities firms.
Prior to the acquisition, Interactive Data and NDF were partners in a redistribution relationship in Japan for more than 14 years. The partners provided financial institutions with global end of day securities pricing, evaluations and reference data for clients’ investment operations, including portfolio valuation and accounting.
Interactive Data has now changed the name of NDF to Interactive Data Japan KK and indicates that it plans to retain the personnel and operate the business in a manner consistent with historical practices. At present, NTT Data Corporation retains a 10% interest in NDF with other minority shareholders collectively owning the remaining 11%. However, Interactive Data says that it intends to acquire the remaining equity of NDF over the coming years.
Subscribe to our newsletter
