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Print Edition StoriesTuesday, November 24, 2009
Interactive Data Corp. buys assets from Dow Jones
By Mass High Tech Staff
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Interactive Data Corp. has agreed to buy the data and tools assets of Dow Jones & Co. Inc.’s Online Financial Solutions business, in a transaction expected to close in a matter of weeks.
Dow Jones will resell MarketWatch news through a nonexclusive redistribution agreement with Interactive Data, according to officials. Financial terms of the deal were not disclosed.
Interactive Data (NYSE: IDC) plans to add the OFS assets to its U.S. Managed Solutions group, and expects to retain “a number of” OFS employees, who are based in Minneapolis, New York City and San Francisco, officials said. OFS data and tools are used to develop web-based content and analysis applications for about 200 customers, including financial institutions and media web portals. The business was part of MarketWatch Licensing Services until Dow Jones’ 2005 acquisition of MarketWatch Inc.
In September, Andrew J. Hajducky III resigned from his position as executive vice president, treasurer and CFO at IDC. Christine A. Sampson, Interactive Data’s vice president of finance and chief accounting officer, was named to fill in as interim CFO during the company’s search for a replacement.
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