Bats Global Markets, the leading exchange operator for the trading of exchange-traded funds (ETFs), and creator of the Bats ETF Marketplace, signed a definitive agreement to acquire ETF.com, a leading provider of ETF data, news and analysis.
The transaction is scheduled to close April 1, 2016, subject to customary closing conditions, and ETF.com will become an independent media subsidiary of Bats. David Lichtblau, CEO of ETF.com, will remain in that role and report directly to Bats Executive Vice President and Head of U.S. Markets Bryan Harkins.
Bats CEO Chris Concannon said, “This acquisition of the innovative ETF.com business underscores our commitment to the ETF industry and our focus on providing unique, value-added content for issuers, brokers, financial advisors, market professionals and investors.
“We are excited to acquire a company that shares the Bats culture and dedication to the continuing education of investors and other market constituents,” he said.
Founded in 2001, ETF.com provides independent and authoritative news, analysis, data and education about ETFs, generating 875,572 page views and attracting 291,191 unique visitors in February 2016 alone. The insight and analysis on ETF.com adds to the proprietary market data and analytics that Bats offers to help market participants make educated trading and investment decisions.
Mr. Lichtblau said, “We are excited to become a part of Bats while continuing our mission as the leading provider of unique, proprietary ETF-focused content. We share the same enthusiasm as Bats and will maintain the journalistic independence that has become the hallmark of ETF.com and our flagship print publication, ETF Report.”
Financial terms were not disclosed.
About Bats Global Markets, Inc.
Bats Global Markets, Inc., is a leading operator of exchanges and services for financial markets around the world with a stated mission of Making Markets Better. Bats operates the largest equities exchange in Europe and the continent’s largest trade reporting facility. In the U.S., Bats operates four stock exchanges, which taken together constitute the largest market for ETF trading and the second-largest equities market in the country. Bats also operates two U.S. options markets. Bats owns Hotspot, a leading institutional spot foreign exchange market. The company is headquartered in Kansas City with offices in New York, London, Chicago and Singapore.