Toronto Stock Exchange Operator to Become Sole Owner of VettaFi
With its second stake valued at $848 million, the total price for TMX Group’s full ownership of VettaFi stands at $1.03 billion, the Toronto-based firm announced late Wednesday. VettaFi focuses on developing and managing global indexes, ETF analytics, a global ETF database and digital distribution for asset managers.
TMX Group, which also operates the Canadian Depository for Securities and Montréal Exchange, among other businesses, expects to wrap up the transaction in January, subject to customary closing conditions.
“The acquisition of VettaFi will add a dynamic new component to our growing information business, with an exciting set of capabilities and a visionary, innovative team committed to client success,” TMX Group CEO John McKenzie said.
“Moving forward, the addition of VettaFi increases the depth and value of data-driven insights we provide to clients, expands our digital expertise and enriches our industry-leading support for ETF issuers,” McKenzie said.
McKenzie and Jay Rajarathinam, TMX chief operating officer, sit on VettaFi’s board.
“Early on in our relationship with TMX Group it became clear that not only did we have complementary products and solutions, but our companies also have complementary cultures rooted in like-minded values and ambitious vision,” VettaFi CEO Leland Clemons said.
(Image: Adobe Stock)
