Canadian exchange operator TMX Group has acquired a 21% stake in data, analytics, indexing, and digital distribution firm VettaFi for US$175 million.
In addition to the equity investment, the two companies have entered into a commercial agreement that will expand the range of index and ETF services offered through TMX’s Datalinx business. TMX Group has been actively enhancing its Datalinx operations, recently acquiring Wall Street Horizon, a provider of action and corporate event data.
Jay Rajarathinam, COO of TMX Group, commented, “VettaFi is a dynamic and growing index, ETF data and related digital distribution business. We look forward to collaborating to integrate TMX Datalinx’s data sets and capabilities with VettaFi’s comprehensive services and expertise to enhance our offerings.”
Rajarathinam, along with TMX CEO John McKenzie, will join the board of VettaFi immediately.