Interactive Data buys Dubai firm, said to be seeking own buyer

By Rodney H. Brown

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Just one day after acquiring a distributor of its financial market data services based in the United Arab Emirates, Bedford-based Interactive Data Corp. is looking at “strategic alternatives” for the company, according to officials.

London-based newspaper The Financial Times reported early this morning that Interactive Data might be seeking a purchaser. Both Interactive Data and The Financial Times are owned by U.K.-based media conglomerate Pearson.

In response to the reports, Interactive Data issued a statement this morning, saying “Interactive Data’s Board of Directors is currently conducting a preliminary review of strategic alternatives” for the company. It also said no further statements or comments would be made about the matter.

On Thursday, Interactive Data bought Telerate Systems Ltd. for approximately $600,000. The purchase gives Interactive Data (NYSE: IDC) a direct presence in the Middle East to sell to regional financial institutions in the commodities, futures and foreign-exchange trading markets. Telerate will be rebranded with the Interactive Data name and will keep its six employees.

In December, Interactive Data acquired electronic trading network firm 7ticks LLC. Chicago-based 7ticks provides trading firms, investment banks and other financial institutions with technology platforms, hosting and support services for electronic trading of North American securities. Interactive Data said it will pay $30 million in cash upon the deal’s closing, with the possibility of an additional $21.2 million stemming from performance milestones.

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