Markit To Buy DealHub

(RTTNews) - Financial information services provider Markit Ltd. (MRKT) said Monday that it has agreed to buy DealHub, a provider of trade processing and trading services to the foreign exchange market.

Financial terms of the deal, which will be will be funded by a combination of cash and Markit's revolving credit facility, were not disclosed.

DealHub's customers include global banks, regional banks, interdealer brokers, FX electronic trading venues and asset managers. The company has about 55 people based primarily in London, with additional offices in New York and Singapore.

The acquisition will enable Markit to offer customers a comprehensive solution for FX across venue connectivity, trading services, trade confirmation and management, clearing and regulatory reporting. It will also expand Markit's customer base among banks, brokers and asset managers in the FX markets.

The acquisition is expected to close in the third quarter of 2015.

Following completion of the acquisition, DealHub will become part of Markit's Processing division. It is not expected to have a material impact on Markit's financial results in 2015.