TMX Group Completes $848M Acquisition of Crypto ETF Firm VettaFi
TMX Group Acquires Remaining Shares of VettaFi
The TMX Group, operator of Canadian exchanges such as the Toronto Stock Exchange and the Montreal Exchange, finalizes the purchase of VettaFi. This company is a significant player in the exchange-traded funds (ETFs) industry, including blockchain and crypto ETFs.
A Purchase Worth 848 Million Dollars
On December 13, the TMX Group officially announced that it will acquire the remaining 78% of common shares of VettaFi, which it did not already own, for 848 million dollars. This deal increases the total amount of the acquisition to 1.03 billion dollars. This amount also includes investments that the TMX Group made in VettaFi in the first half of 2023, when it acquired about 22% of the common shares.
New Momentum for the Information Business
John McKenzie, CEO of the TMX Group, spoke positively about the acquisition: “The purchase of VettaFi will add a dynamic new component to our growing information business, with an exciting set of capabilities and a visionary, innovative team committed to the success of customers.” He added that the TMX Group had previously worked with VettaFi and this collaboration has produced a “strong combination and a tremendous cultural fit.”
About VettaFi
VettaFi was founded in May 2022, when the teams from ETF Trends, ETF Database, Alerian, and S-Network Global Indexes merged to form a joint company. VettaFi offers a comprehensive range of global indexes and ETF services, including ETF trends and analysis, a global ETF database, and other tools. In addition to traditional financial ETFs, VettaFi also lists blockchain and cryptocurrency-themed ETFs, including the VanEck Digital Transformation ETF, which has risen by nearly 207% over the course of the year.
Source: CoinTelegraph
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