vwd Snaps Up Fides in Pre-Listing Drive

ORGANIZATION & STRATEGY

German market data vendor vwd last week expanded its European presence ahead of plans to become a publicly-listed company, with the acquisition of Swiss vendor Fides Information Systems' market data business from Credit Suisse Group.

The market data operations of Fides, which will be headed by vwd managing director Spencer Bosse, generates over €8 million in annual revenues. Although the parties are not disclosing the value of the deal, the price paid was less than this annual turnover, says

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