Canada’s largest stock-exchange owner agreed to buy the remaining 78 per cent of New York-based VettaFi for US$848 million. That’s on top of the 22 per cent TMX Group agreed to buy in early 2023 for US$175 million. (The Logic)
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Canada’s largest stock-exchange owner agreed to buy the remaining 78 per cent of New York-based VettaFi for US$848 million. That’s on top of the 22 per cent TMX Group agreed to buy in early 2023 for US$175 million. (The Logic)
Talking point: VettaFi offers a range of indexes and ETF services for money managers and investors. The acquisition, which is expected to close next month, could help TMX boost its recurring revenue, as well as the share of revenue it generates from outside Canada. The company has been angling to increase global sources of capital to account for more than half of its revenue. “From a strategic standpoint, this acquisition accelerates TMX’s long-term global expansion,” the company said in a press release. The deal follows its 2017 acquisition of Trayport, a London-based wholesale energy market trading platform, which helped it expand into new markets in Europe, North America and Asia.
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