Financial Times Publisher Sells Interactive Data Corp.

Pearson (PSO), which publishes the Financial Times and invests in The Economist, is selling its 61% stake in financal-analytics purveyor Interactive Data Corp.

The buyers, Silver Lake and Warburg Pincus, are teaming up to buy Interactive Data for $3.4 billion in a deal that includes debt financing from Bank of America Merrill Lynch, Barclays, Credit Suisse Securities and UBS Investment Bank. The deal nets Pearson about $2 billion.

“Pearson and Interactive Data have extensive growth opportunities and ambitious expansion plans, and we believe this transaction will give both companies greater focus and opportunity to invest more in their strong market positions,” said Pearson CEO Marjorie Scardino in a statement. “We wish everyone at Interactive Data every success with their new owners. We’ve been pleased to be their colleagues and will enjoy watching their progress from here.”

(h/t paidContent)



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