NYSE Euronext has agreed to acquire technology company Nyfix
for $144m. It expects to close the deal during the fourth
quarter of 2009, subject to approval by Nyfix shareholders and
"The agreement represents substantial value for Nyfix
shareholders. This is an all cash deal at a premium to the
current market for Nyfix shares," said Howard Edelstein, chief
executive of Nyfix, in a statement. "Nyfix customers will also
benefit greatly through the combination of two of the
industry’s leading trading communities, creating a
global transaction marketplace connecting buy side and sell
side, as well as from the strength of the NYSE Euronext
platform and global brand."
Nyfix designs systems that process financial transactions
and offers broker-dealer services. Brokers, banks and exchanges
use its systems to buy and sell stocks and derivatives, obtain
real time quotes, and manage trade orders.
"The Nyfix Fix Division complements our strategic corporate
goals and technology business, and expands our points of
connectivity with customer trading communities," said Michael
Geltzeiler, chief financial officer of NYSE Euronext. "There
are natural synergies and efficiencies that will be realised
both in terms of costs and tax benefits."
The Nyfix Fix business will be part of NYSE Technologies.
Nyfix also operates dark pool block trading facilities on both
sides of the Atlantic through its Nyfix Transactions Services
business. NYSE Euronext said it would "explore various
alternatives" for that business.
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