One Equity Partners completes Telerate acquisition
NEW YORK, NY, October 18, 2001 – Telerate Network, Inc. today announced the completion of the previously announced acquisition of the global business of Telerate, Inc., of Bridge Information Systems, Inc.’s information businesses in Europe and Asia and, globally, of the Bridge Trading Room System (BTRS).
Reflecting completion of the Bridge transaction, and the strategic significance of the transaction to the combined enterprise, Telerate also announced that the Company has changed its name from Bridge Information Systems to Telerate, effective immediately.
“The Telerate transaction, and the strategic relationships with BrokerTec Global LLC and TradeWeb LLC that we are announcing today, make this a defining moment in the history of our company,” said Jon Robson, President and CEO of Telerate. “The new Telerate is committed to building value for our customers. We have a powerful combination of hosted Internet-based transactional services, real-time and historical content, and applications and strategic relationships that will give our customers the tools and the information they want and need to work better and faster. We also have what I strongly believe is a unique opportunity to build the preferred distribution network for the fixed-income and capital markets.”
In separate announcements today, Telerate announced an exclusive content distribution agreement with BrokerTec Global LLC, a leading wholly electronic inter-dealer broker, and an exclusive enterprise licensee agreement with TradeWeb LLC, the leader in on-line fixed-income markets. Under the BrokerTec agreement, Telerate customers will have access to the leading benchmark global fixed-income pricing data. Under the TradeWeb agreement, Telerate customers will have access to TradeWeb’s Treasury and agency data. They will also have access to TradeWeb data for TBA agency mortgage-backed securities and euro-sovereign debt securities.
About Telerate International
Telerate is a leading global provider of aggregation, distribution and transaction services to suppliers and users of capital markets content and liquidity. With the world’s premier benchmark fixed-income content, web-based distribution platform and transaction systems, Telerate provides financial services firms with cost-effective, flexible methods for using content to drive investment decisions and order flow across new and existing electronic channels. The firm, established in 1998, is headquartered in New York City.
RELEASED BY TELERATE NETWORK, INC.