Interactive Data Completes Acquisition of Majority Interest in NTT DATA Financial Corporation
December 15 2008 - 9:00AM
Business Wire
Interactive Data Corporation (NYSE: IDC), a leading provider of
financial market data, analytics and related services to financial
institutions, active traders and individual investors, today
announced the initial closing of its acquisition of a majority
interest in NTT DATA Financial Corporation (NDF). Interactive Data
paid approximately 2.4 billion yen (or approximately U.S. $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 NDF
provides Interactive Data with a strong, direct presence in Japan
and advances the Company�s strategy to expand its business in the
Asia-Pacific region. Based in Tokyo, NDF is a leading provider of
securities pricing, reference data and related services to many
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
re-distribution relationship in Japan for more than 14 years,
providing financial institutions with global end-of-day securities
pricing, evaluations and reference data for clients�
mission-critical investment operations, including portfolio
valuation and accounting. Interactive Data has changed the name of
NDF to Interactive Data Japan KK and 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%. Interactive Data plans to work with NTT DATA
Corporation for a smooth transition of the business in Japan and to
acquire the remaining equity of NDF over the coming years. The
purchase price to acquire 100% of NDF is expected to be 3.0 billion
yen (or approximately U.S. $32.6 million assuming constant foreign
exchange rates) in cash. Interactive Data Corporation
Forward-looking and Cautionary Statements This press release
contains certain forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 and Federal
securities laws, and is subject to the safe-harbor created by such
Act and laws. Forward-looking statements include all statements
that are not historical and include our statements discussing our
goals, beliefs, strategies, objectives, plans, prospects and
opportunities, and our statements relating to (i) the fact that the
subsequent closing of the minority interests may not occur on a
timely basis or at all; (ii) our ability to retain key employees of
NDF; and (ii) our ability to further expand our business in Japan
and the Asia Pacific market. These statements are subject to known
and unknown risks, uncertainties, assumptions, and other factors
that may cause actual results to be materially different from those
contemplated by the forward-looking statements. Such factors
include: (i) the fact that the subsequent closing of the minority
interests may not close on a timely basis or at all, (ii) our
ability to successfully integrate the NDF business, (iii) our
ability to retain key employees of NDF, and other factors
identified in our most recent Annual Report on Form 10-K and
Quarterly Report on Form 10-Q filed with the Securities and
Exchange Commission. We undertake no obligation to update these
forward-looking statements. About Interactive Data Corporation
Interactive Data Corporation (NYSE: IDC) is a leading global
provider of financial market data, analytics and related services
to financial institutions, active traders and individual investors.
The Company's businesses supply real-time market data,
time-sensitive pricing, evaluations and reference data for millions
of securities traded around the world, including hard-to-value
instruments. Many of the world's best-known financial service and
software companies subscribe to the Company's services in support
of their trading, analysis, portfolio management and valuation
activities. Through its businesses, Interactive Data Pricing and
Reference Data, Interactive Data Real-Time Services, Interactive
Data Fixed Income Analytics, and eSignal, the Company has
approximately 2,300 employees in offices located throughout North
America, Europe, Asia and Australia. The Company is headquartered
in Bedford, Mass. Pearson plc (NYSE: PSO; LSE: PSON), an
international media company, whose businesses include the Financial
Times Group, Pearson Education, and the Penguin Group, is
Interactive Data Corporation's majority stockholder. Interactive
Data Corporation is celebrating its 40th anniversary in 2008. For
more information about Interactive Data Corporation and its
businesses, please visit www.interactivedata.com.
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