Interactive Data Buys Chicago Firm
Bedford-based financial market information company Interactive Data Corp., which has operations in Boxborough, has purchased Chicago-based 7ticks, which provides electronic trading and management services.
The purchase will allow Interactive Data to expand its footprint in the electronic trading sector.
Interactive Data plans to retain all 42 employees with 7ticks, including the leadership team. 7ticks will be operated as part of Interactive Data's new real-time market data and trading solution group.
Interactive Data cited a report by the Tabb Group which predicts that automated trading program services will grow from $1.4 billion this year to $2 billion by 2012.
Financial terms of the deal were not disclosed, but Interactive Data expects the transaction to be complete in early 2010.
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