Track Data Is Acquired By Its Own Spin-Off
VENDOR STRATEGIES
Privately-held market data and analytics vendor Track Data Corp. has found itself in a so-called "reverse acquisition," as it merged with electronic trading information provider Global Market Information Inc.--a publicly traded company that Track Data spun off in a 1994 IPO. (IMD, Dec. 19, 1994). The two companies signed a nonbinding agreement in principle for the merger on June 20.
It cost some $50 million for Global Market Information to, in effect, buy its former parent, according to a source
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