Interactive Data Purchases Assets of Middle East Sales Agent
January 14 2010 - 9:00AM
Business Wire
Interactive Data Corporation (NYSE: IDC), a leading provider of
financial market data, analytics and related solutions, today
announced that it has purchased the assets of Dubai-based Telerate
Systems Limited (TSL) for UAE dirhams 2.2 million (or approximately
$0.6 million in cash based on current exchange rates). For the past
seven years, TSL, a privately held company that operates in Dubai,
United Arab Emirates (UAE), has been a sales agent for desktop
services from Interactive Data’s eSignal division to the
commodities, financial futures and foreign exchange trading
community in the Middle East.
This transaction will advance Interactive Data’s strategy of
expanding internationally by establishing a direct presence in the
Middle East. TSL has strong experience and technical expertise in
selling eSignal’s desktop services in the Middle East, with
business relationships that extend across the region. Through this
transaction, and by making investments in local content and product
development, Interactive Data plans to more effectively market its
entire portfolio of products and services in this region. The
business in the Middle East is being rebranded under the
Interactive DataSM name and the TSL team of six employees, as well
as its managing director, now become Interactive Data
employees.
Roger Sargeant, managing director, International, Interactive
Data, stated: “By having a direct presence in the region, we will
enhance our ability to accelerate the expansion of our business in
the Middle East. We look forward to providing our new Dubai-based
team with the requisite resources to capitalize on what we believe
are attractive expansion opportunities in this fast-growing
region.”
Interactive Data anticipates that purchasing the assets of TSL
will not have a material impact on its 2010 financial results.
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) expanding our business in the Middle East; (ii) our
plans to make investments in local content and product development
to more effectively market our products and services in this
region; and (iii) our intention to provide TSL with the requisite
resources to capitalize on the attractive expansion opportunities
in; and (iv) the anticipated impact of the TSL business on our
business, including any impact on our earnings. 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) our ability to successfully
integrate the TSL business, (ii) our ability to retain key
employees of TSL, 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 solutions
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. Interactive Data, headquartered in Bedford, Mass., has
approximately 2,400 employees in offices located throughout North
America, Europe, Asia and Australia. 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.
For more information about Interactive Data Corporation and its
businesses, please visit www.interactivedata.com.
Interactive Data (NYSE:IDC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Interactive Data (NYSE:IDC)
Historical Stock Chart
From Jul 2023 to Jul 2024