London Stock Exchange Group to Acquire Quantile for up to GBP274 Million
December 06 2021 - 2:47AM
Dow Jones News
By Joe Hoppe
London Stock Exchange Group PLC said Monday that it will buy
Quantile Group Ltd., a portfolio, margin and capital optimization
and compression services provider, for up to 274 million pounds
($362.7 million).
The stock-exchange and financial-information company, also known
as LSEG, said the money will be paid to Quantile's shareholders,
and will be provided from existing cash balances and facilities.
The acquisition is expected to close in 2022, subject to antitrust
and other financial approvals.
LSEG said the acquisition of Quantile and its optimization
engine will allow it to expand its range of post-trade
risk-management solutions, and complement the company's global
over-the-counter derivatives clearing services, which provide
risk-management and capital efficiencies to customers.
Quantile and LSEG's services will be available on an open-access
basis offering customers choice, and Quantile will remain a
standalone entity in LSEG's post trade division.
"[The acquisition] significantly enhances LSEG's multi-asset
class customer offering across the transaction lifecycle by
providing more sophisticated tools and infrastructure for customers
to optimize their financial resources and drive greater operational
efficiencies in [over-the-counter] derivatives," said Daniel
Maguire, LSEG group head of post trade.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
December 06, 2021 02:32 ET (07:32 GMT)
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