Interactive Data says it has inked a definitive agreement to be acquired by private equity firms Silver Lake and Warburg Pincus in a cash deal worth around $3.4 billion.
Pearson has also issued a statement confirming it has agreed to sell its 61% stake in the market data provider, netting the Financial Times owner around $2 billion.
Under the agreement, Interactive Data stockholders will receive $33.86 a share, a premium of about 32.9% on the closing price on 14 January, the last trading day before the firm revealed it was looking at "strategic alternatives".
Pearson acquired its controlling stake in Interactive Data in 2000 but confirmed moves were afoot to find a buyer in January. At the time several private equity groups, as well as rival data providers McGraw-Hill and Thompson Reuters, were cited as potential bidders.
Ray D'Arcy, president and CEO, Interactive Data, says: "Pearson has been a valuable, supportive partner to Interactive Data over the years as we expanded our business globally. Transitioning our ownership structure will mark an exciting, new chapter in Interactive Data's development. With the backing of Silver Lake and Warburg Pincus, we look forward to accelerating our momentum and further enhancing our capabilities, delivery platforms and technical infrastructure.
Joe Osnoss, MD, Silver Lake, adds: "Silver Lake and Warburg Pincus both have significant experience investing in market-leading companies at the intersection of financial services and technology. Interactive Data is particularly well-positioned as a global financial technology growth platform, and we expect a strong partnership between our firms and Interactive Data's customers and employees in pursuing this opportunity."
The deal is expected to be completed by the end of the third quarter, following regulatory approvals and other customary closing conditions.