CITI On Verge Of Crossmar Deal -- Will ADP Bite?
VENDOR STRATEGIES
After months of rumors, Citicorp finally appears to be closing in on a buyer for its Crossmar Inc. foreign exchange and fixed-income market data vendor unit. And ADP looks to be the likeliest taker. If the ADP/Crossmar deal pans out, ADP would acquire Crossmar's digital data feed technology, including a delivery platform better suited to the contributed data ADP has found increasingly important to its market data sales strategy. A deal is expected to be made within the next few weeks.
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