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Wednesday, March 30, 2016

ETF.com Sells

News summary by MFWire's editors

The website formerly known as IndexUniverse is selling at the end of the week.

Chris Concannon
Bats Global Markets
President and Chief Executive Officer
Bats Global Markets CEO Chris Concannon confirms that on Friday the Kansas City-based exchange operator will buy ETF.com. The site will become an independent media subsidiary of Bats, led by ETF.com CEO David Lichtblau, and Litchbau will report to Bats' Bryan Harkins, executive vice president and head of U.S. markets.

Barron's, the Kansas City Star, MarketWatch, Reuters, and of course ETF.com all covered the news.

The pricing and terms of the deal were not disclosed.

This is the third ETF.com sale in less than two years. In 2015 FactSet Research Systems bought ETF.com's data and analytics business, and earlier in 2016 Informa bought ETF.com's "Inside ETFs" conference business.

Concannon states that the ETF.com deal "underscores [Bats'] commitment to the ETF industry." He puts the deal in the context of Bats' "focus on providing unique, value-added content for issuers, brokers, financial advisors, marketing professionals and investors." 

Edited by: Neil Anderson, Managing Editor

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