Thursday, June 26, 2008

When in Rome, IDC buys Kler’s for $29M

By Mass High Tech Staff

Interactive Data Corp. reports that it has agreed to acquire Kler’s Financial Data Service Srl for $29.5 million.

The transaction is expected to be completed during the third quarter, company officials said.

Rome-based Kler’s, which employs 44 workers, is a provider of reference data to the Italian financial industry. Bedford-based Interactive Data (NYSE: IDC) plans to retain the Rome office, adding to its existing Italian presence in Milan, and will market Kler’s services in Italy as Interactive Data Kler’s.

Interactive Data, which formed in 1968, employs 2,200 workers. The company provides financial market data, analytics and related services.

The Kler’s deal enables Interactive Data to expand its reference data services and increase its direct presence across Europe, officials said.

Last year, Interactive Data acquired the market-data division of New York-based Xcitek LLC and the market-data assets of affiliate Xcitax LLC for $25.3 million. For 2007, Interactive Data reported $125.9 million in net income on $689.6 million in revenue.