Infront concluded today, Friday April 12, a agreement to acquire the shares of German VWD group. It has thus become the third largest provider of financial data in Europe. The purchase equal to 130 million euro will be financed by an issue of stock rights of 240 million of Norwegian kroner and abond issue of 105 million euro.
VWD is one of the leading German suppliers of information solutions covering data and flows, portfolio management and advisory, regulatory information and calculation processing. in front on the other hand, it is the market leader in the Nordic countries and has shown strong growth in new markets such as the UK, South Africa and Italy through its real-time solutions for data of financial markets, trading, analysis and news.
“When we went public in 2017, we had an ambition to become one of the top three providers of financial terminals in Europe within five years. Now, just 18 months after our IPO, we have achieved this with the acquisition of VWD and Market Connect late last year. - he has declared Kristian Nesbach, co-founder of Infront – We are two highly complementary businesses in terms of customers, products and geographical coverage. Together we will reach an even larger customer base, explore significant cross-selling and upselling opportunities, and achieve cost synergies from data stream consolidation and other synergies.”
Infront will have approx 3.600 customers and 90.000 end users. Revenues in 2018 were exceeding 1 billion of Norwegian kroner.
