Monday, December 15, 2008

Interactive Data buys most of Japan’s NTT Data Financial

By Mass High Tech staff

Financial data provider company Interactive Data Corp. reports it has bought a majority interest in NTT Data Financial Corp. of Japan for approximately $25.8 million in cash.

Bedford-based Interactive Data (NYSE: IDC) acquired 79 percent of NDF, of which 64 percent was bought from NDF’s parent NTT DATA Corp., and 15 percent from minority shareholders.

According to Interactive Data, the NDF purchase is part of the company’s strategy to expand its business in the Asia-Pacific region by giving it a direct presence in Japan. Tokyo-based NDF is a provider of securities pricing, reference data and other services to many Japanese banks, asset and funds management companies, insurance companies, custody banks, trust banks and securities firms, according to Interactive Data.

Interactive Data and NDF had been partners in a data re-distribution relationship in Japan for more than 14 years. Interactive Data has changed the name of NDF to Interactive Data Japan KK and says it plans to keep the personnel on board and not make any changes to the way NDF does business.

Officials at Interactive Data say the company plans to acquire the remaining equity of NDF in the next few  years, for an anticipated total cost of approximately $32.6 million in cash.

Earlier this year, Interactive Data named Stephan Wolf as the company’s chief technology officer.