(Bloomberg) -- London Stock Exchange Group Plc has agreed to buy Quantile Group as the bourse looks to bolster the risk management solutions its offers to traders.
The exchange said it would pay as much as 274 million pounds ($363 million) for the closely held firm, according to a statement Monday. Quantile's tools help banks, hedge funds and other firms to optimize the size, risk, complexity and associated costs of derivatives portfolios, according to its website.
LSEG said the acquisition is being funded from existing cash holdings and credit facilities. The deal is expected to close in 2022, subject to antitrust and other regulatory approvals.
The addition of Quantile will provide “more sophisticated tools and infrastructure for customers to optimise their financial resources and drive greater operational efficiencies in OTC derivatives,” said Daniel Maguire, LSEG's group head of post-trade division.
Bloomberg LP, the parent company of Bloomberg News, competes with LSEG's Refinitiv unit in providing financial news, data and information.
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