Euronext N.V. (ENXB.BE, ENX.BR, ENX.AS, ENX.PA), a pan-European bourse, said on Friday that it has signed a deal to acquire 75 percent of Global Rate Set Systems or GRSS, a provider of services to benchmark administrators and financial markets.
The financial terms of the transaction, to be closed in the second-quarter, are not known.
Founded in 2009, New Zealand headquartered GRSS is a provider of solutions for developing, operating, and monetizing benchmarks, indices, and other forms of regulated or unregulated market data.
This acquisition, to be fully financed by cash on hand, will boost Euronext's fixed and subscription-based revenue.
Stephane Boujnah, CEO of Euronext, said: "The acquisition of Global Rate Set Systems is a new milestone in broadening the Euronext data and indices offering. This transaction allows us to further expand Euronext's offering to interest rate benchmark indices and contributed data indices."
The acquisition is expected to further diversify and strengthen Euronext's index franchise, positioning the Group as a leading player for calculating and administrating Interbank Offered Rate indices.
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