Tradeweb to buy investment tech firm ICD for $785 mln (updated)

Tradeweb Markets

08/04/2024 11:40

(Adds context in paragraph 2)
       April 8 (Reuters) - Digital trading platform Tradeweb
Markets  TW.O  said on Monday it would buy investment technology
firm Institutional Cash Distributors (ICD) for $785 million.
    The deal will allow Tradeweb to expand its presence in the 
institutional trading market, which ICD caters to, and is
expected to boost earnings in the first 12 months after the
acquisition closes. 
    Tradeweb will finance the deal with cash on hand, it said.
     

 (Reporting by Niket Nishant in Bengaluru; Editing by Shailesh
Kuber and Mrigank Dhaniwala)
 ((Niket.Nishant@thomsonreuters.com;))