Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, announced today that it has signed a definitive agreement with SR Labs for the sale of the Wombat Financial Software, a unit of NYSE Technologies. The transaction is expected to close in third-quarter 2014 and terms were not disclosed.
“We are pleased to announce this agreement with SR Labs for the purchase of Wombat, which includes SuperFeed and a full suite of connectivity and data management services,” said Ben Jackson, President and Chief Operating Officer, ICE Futures U.S. and President, NYSE Technologies. “This is a significant step in the previously announced divestiture of the non-exchange related assets of NYSE Technologies. We look forward to completing the deal this summer and will work closely with the SR Labs team to ensure an efficient and timely transition for Wombat customers.”
Wombat is a global leader in high performance financial market data management solutions offering customers comprehensive, end-to-end solutions for electronic trading and connectivity management. As part of the Wombat product suite, SR Labs is also acquiring SuperFeed, which offers direct connectivity to a range of key global trading venues, reducing complexity and client overhead by allowing customers to consolidate fragmented technologies and complicated connectivity options. The Wombat platform also includes Wombat Direct Market Data Feed Handlers, providing normalization for more than 200 direct exchange and aggregated vendor feeds; DART Entitlements, providing market data usage and compliance analysis, and reporting services; and Wombat Middleware, enabling high-speed, multi-protocol messaging throughout the enterprise.
Intercontinental Exchange will make further announcements regarding the remaining NYSE Technologies business units in the coming months.
Evercore served as the exclusive financial advisor to Intercontinental Exchange on this transaction.
