Tradeweb Markets Inc. acquires Institutional Cash Distributors for $785m to expand in institutional trading.
Tradeweb Markets Inc. has agreed to buy Institutional Cash Distributors (ICD), an investment technology provider for corporate treasury organizations, for $785m. The acquisition will enable Tradeweb to expand its presence in the institutional trading market and is expected to boost earnings in the first 12 months after the deal closes. Tradeweb will finance the deal with cash on hand.
April 08, 2024
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