Tradeweb Markets Acquires Institutional Cash Distributors (ICD) for $785 Million
April 8, 2024
Tradeweb Markets, Inc. (Nasdaq: TW) entered into a definitive agreement to acquire Institutional Cash Distributors, LLC (ICD), an institutional investment technology platform for corporate treasury organizations trading short-term investments, for $785 million in an all-cash deal. Tradeweb says the acquisition will add a new client channel for corporate treasurers and will complement its existing electronic marketplaces for fixed income products.
- Buyers
- Tradeweb Markets, Inc.
- Targets
- Institutional Cash Distributors, LLC, Institutional Cash Distributors (ICD)
- Sellers
- Parthenon Capital
- Industry
- Financial Services
- Location
- Colorado, United States
- Transaction Type
- Buyout
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