Canadian global markets firm already owned a minority stake in the indexing business
Indexing and analytics firm VettaFi is now owned outright by the TSX Group after the firm acquired the remaining 78% of the U.S. headquartered business.
The U$848 million transaction built on the minority 22% shareholding that the global markets business acquired earlier in 2023 and will enhance the Canadian firm’s scope and capabilities in its growing information business.
"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,” said John McKenzie, TMX Group’s CEO. “From a strategic standpoint, this acquisition accelerates TMX's long-term global expansion, and increases the proportion of revenue derived from our Global Solutions, Insights and Analytics division, and from recurring sources."
Additional capabilities
VettaFi’s services include a range of indexes, ETF trends and analytics data, a global ETF database, and digital distribution. VettaFi will be included in TMX's Global Solutions, Insights & Analytics segment.
"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," said Leland Clemons, Chief Executive Officer, VettaFi. "Both companies place a premium on putting the client first and moving opportunity into action. I am excited for VettaFi's clients, partners and employees as we begin this next chapter. Together, we will make markets and each other better."
Completion of the transaction is expected in January 2024, subject to customary closing conditions.
Earlier this year VettaFi acquired custom thematic indexing specialist EQM Indexes, LLC, which provides indexing solutions for advisors and investment managers in North America, Europe, and Australia.
