- TMX Group, the operator of the Toronto Stock Exchange (TSX), acquires the remaining 78% stake in VettaFi for $848 million (CAD 1.15 billion).
- The initial investment was $175 million (CAD 234 million) for about 22% of the US-based indexing and analytics company on January 9.
- TMX Group plans to finance the acquisition with bank debt through term loans, totaling up to $1 billion (CAD 1.36 billion).
- VettaFi will become part of TMX Group’s global solutions, insights, and analytics unit.
- TMX Group expects the acquisition to enhance data-driven insights, accelerate global expansion, and boost revenue in the long term.
- As part of the deal, TMX Group will also take on $100 million (CAD 136 million) of VettaFi’s debt.
- The transaction is anticipated to be completed next month.
- VettaFi, founded in May 2022, offers ETF insights, indexing, and analytics services for asset managers and investors.
