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TSX operator TMX Group snaps up remaining 78% stake in VettaFi for $848m | Fintech InShorts: Latest fintech news, analysis by experts

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TSX operator TMX Group snaps up remaining 78% stake in VettaFi for $848m

By Laura M

December 17, 2023

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.

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