London Stock Exchange Group plc (LSE.L) announced Monday that it has agreed to acquire Quantile Group Limited for a maximum aggregate consideration of up to 274 million pounds, subject to customary adjustments.
The acquisition is being funded from existing cash resources and credit facilities and is expected to close in 2022, subject to antitrust and other regulatory approvals.
Quantile, which was founded in 2015, provides portfolio, margin and capital optimisation and compression services for the global financial services market.
Following the acquisition, London Stock Exchange or LSEG and Quantile’s services will be available on an Open Access basis that will continue to offer customers the choice of where to clear, compress and optimise their trading activity.
Quantile will remain a standalone entity within LSEG’s Post Trade division, reporting to Daniel Maguire, LSEG’s Group Head of Post Trade.
LSEG expects the acquisition will enable it to expand its range of Post Trade risk management solutions to its customers through trade compression, capital and margin optimisation services.
In the deal, Evercore is acting as sole financial adviser and sponsor to LSEG.