About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

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

Subscribe to our newsletter

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.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to simplify and modernize data architecture to unleash data value and innovation

The data needs of financial institutions are growing at pace as new formats and greater volumes of information are integrated into their systems. With this has come greater complexity in managing and governing that data, amplifying pain points along data pipelines. In response, innovative new streamlined and flexible architectures have emerged that can absorb and...

BLOG

Overcoming Data Challenges of Rapidly Evolving ESG Space: ESG Data and Tech Briefing Preview

The rapid maturation of ESG data integration and utilisation within financial institutions has forced them to invest in new technology and data management processes. The rate of change, however, has been a challenge for some organisations, which have struggled to put in place the necessary capabilities to absorb, order and deploy such large volumes of...

EVENT

ESG Data & Tech Briefing London

The ESG Data & Tech Briefing will explore challenges around assembling and evaluating ESG data for reporting and the impact of regulatory measures and industry collaboration on transparency and standardisation efforts. Expert speakers will address how the evolving market infrastructure is developing and the role of new technologies and alternative data in improving insight and filling data gaps.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...