TMX buys 78% of ETF arm VettaFi for $848M, increasing its stake to 100%.
TMX Group, operator of Canadian stock exchanges such as the Toronto Stock Exchange and Montreal Exchange, is closing in on the acquisition of VettaFi, a significant player in the exchange-traded fund (ETF) industry, including in blockchain and crypto ETFs.
The company publicly announced on December 13 that it had agreed to buy the remaining 78% of VettaFi's common units for $848 million. The new agreement brings the total purchase amount to $1.03 billion, which includes TMX Group's investment of 22% of common units in VettaFi in the first half of 2023, the announcement said.
“Acquiring VettaFi adds a dynamic new element to our growing data business with an exciting talent pool and visionary and innovative team,” said John McKenzie, CEO of TMX Group. He added that TMX has previously worked with VettaFi and their collaboration has brought a “powerful combination and excellent culture.”
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VettaFi was founded in May 2022 when teams from ETF Trends, ETF Database, Alerian and S-Network Global Indexes merged to form a joint company. VettaFi offers comprehensive global indices and ETF services, including ETF trends and analytics, a global ETF database and other tools.
In addition to traditional financial ETFs, VitaFi also lists blockchain- and cryptocurrency-themed ETFs, including the VanEek Digital Transformation ETF, which has gained nearly 207% year-to-date.
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