The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Interactive Data to Acquire Italian Reference Data Provider for €19m

Share article

Interactive Data Corporation has agreed to acquire Italian reference data provider Kler’s Financial Data Service for a purchase price of €19.0 million (approximately US$29.5 million) in cash, as part of its plans to increase its presence in continental Europe.

The transaction is expected to be completed early in the third quarter of 2008, contingent upon customary closing conditions and the price is subject to working capital adjustments. Kler’s, which is based in Rome, is a privately held provider of reference data, including corporate actions and taxation information, on Italian and international securities, with coverage of equities, listed and unlisted Italian bonds, funds, simple derivatives and warrants.

Kler’s services are available as a downloadable data feed for back office applications or via an online browser that enables clients to search, design reports and perform analysis. Kler’s current client list includes a number of the large custodians and banks in the country and Interactive Data is keen to get into the market and reach these clients. The availability of Italian reference data will also enable Interactive Data to develop evaluated pricing for Italian unlisted bonds.

Stuart Clark, Interactive Data’s president and CEO, reckons there are two main benefits to purchasing the Italian vendor. It will enable Interactive Data to provide a more complete offering of Italian data to its current clients, as well as supporting its entry into the Italian market. Roger Sargeant, managing director, Interactive Data (Europe), adds: “It will allow us to offer a wider range of global pricing and evaluations to Italian financial institutions.”

Interactive Data plans to retain Kler’s Rome office, which currently has 44 employees, and will market Kler’s services in Italy as Interactive Data Kler’s. According to unaudited financial statements provided to Interactive Data, Kler’s 2007 revenue was €5.7 million with operating expenses, including depreciation, of €2.5 million.

Related content

WEBINAR

Upcoming Webinar: Entity identification and client lifecycle management – How financial institutions can drive $4 billion in cost savings

Date: 21 January 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes A new model in Legal Entity Identifier (LEI) issuance has created significant opportunities for financial institutions to capitalise on their KYC and AML due diligence. By becoming Validation Agents and obtaining LEIs on behalf of their clients, financial institutions...

BLOG

Xenomorph Moves from Product to Solution Sales, Drops TimeScape Brand But Not Technology

Xenomorph has regrouped and is chasing growth following the appointment of Neil Sheppard to lead the EMEA and APAC business, a reset to solution rather than product sales, and restructured funding. The company has been pretty low-profile in the market over the past few years, particularly since Brian Sentance stepped down from the role of...

EVENT

RegTech Summit Virtual

The highly successful RegTech Summit Virtual was held in November 2020 and explored how business and operating models are adapting post COVID and how RegTech can provide agile and enhanced compliance for managing an evolving risk and compliance landscape. The event featured daily live keynotes, panel discussions, presentations, fireside chats and Q&A sessions with content available on demand over five days.

GUIDE

Regulatory Data Handbook 2019/2020 – Seventh Edition

Welcome to A-Team Group’s best read handbook, the Regulatory Data Handbook, which is now in its seventh edition and continues to grow in terms of the number of regulations covered, the detail of each regulation and the impact that all the rules and regulations will have on data and data management at your institution. This...