Toronto Stock Exchange operator TMX Group acquired a roughly 21% stake in VettaFi Holdings, a provider of exchange-traded fund data and analytics as well as indexing solutions, a VettaFi spokesman confirmed Monday.
TMX acquired about 21% of the common equity of U.S.-based, privately owned VettaFi for $175 million, or about C$234 million, in a deal that closed Monday, TMX said in a news release.
"VettaFi is a dynamic and growing index, ETF data and related digital distribution business, and we look forward to working together to explore ways to combine TMX Datalinx's data sets and capabilities with VettaFi's comprehensive services and expertise to further enhance our offerings," said Jay Rajarathinam, TMX's chief operating officer, in the news release.
VettaFi provides a suite of global indexes as well as a variety of ETF services, including ETF trends and analytics, a global ETF database and distribution services, the VettaFi spokesman said.
"We are thrilled to forge this partnership with TMX, combining VettaFi's data-driven indexing, analytics and digital platform, and TMX's global scale and TMX Datalinx business," VettaFi CEO Leland Clemons said in the release.
TMX CEO John McKenzie and Mr. Rajarathinam will join VettaFi's board of directors, effective immediately, the release said.