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Intercontinental Exchange to buy IDC for $5.2 billion

Staff writer ▼ | October 26, 2015
Intercontinental Exchange Inc. (ICE) said it would buy financial data firm Interactive Data Corp. (IDC) from investment firms Silver Lake and Warburg Pincus in a deal valued at about $5.2 billion.
Acquisition   Silver Lake and Warburg Pincus are selling big
The deal, which includes $3.65 billion in cash and $1.55 billion in ICE stock, will help build on ICE's market data business by adding technology platforms and increasing new data and valuation services, ICE said.

ICE said the deal to buy Bedford, Massachusetts-based IDC, which provides financial data to banks, money managers and hedge funds, was approved by the boards of both companies.

The exchange operator said it expected cost synergies of $150 million, which will be largely completed within three years. The deal is expected to close at the end of this year.