Nas­daq to ac­quire news dis­trib­u­tor Mar­ketwired

The Pak Banker - - COMPANIES/BOSS -

Nas­daq Inc (NDAQ.O) said on Fri­day it would ac­quire newswire op­er­a­tor and press re­lease dis­tributer Mar­ketwired LP for an undis­closed sum, adding to the ex­change op­er­a­tor's cor­po­rate ser­vices of­fer­ings.

The deal, which is sub­ject to reg­u­la­tory ap­proval, would be funded through a mix of debt and cash and is ex­pected to close in the first quar­ter of 2016, Nas­daq said.

Mar­ketwired is cur­rently owned by the pri­vate equity arm of the On­tario Mu­nic­i­pal Em­ploy­ees Re­tire­ment Sys­tem (OMERS), which in Oc­to­ber was said to have been mulling a sale of the Toronto-based com­pany. At the time, Mar­ketwired was said to be val­ued at as much as $200 mil­lion, sources fa­mil­iar with the sit­u­a­tion told Reuters.

The deal is ex­pected to add to Nas­daq's earn­ings within a year of clos­ing and should have no ma­te­rial im­pact on Nas­daq's fi­nan­cial lev­er­age or cap­i­tal re­turn strat­egy, the com­pany said.

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