One of the leading websites for ETF news and data in the USA has been purchased by Bats Global Markets.
Bats Global, which is the largest ETF trading market in the US, will finalise a deal for ETF.com tomorrow (April 1).
As part of the deal, the website will turn into an independent subsidiary of Bats Global, and will continue to focus on industry coverage. Bats claims that it will remain independent but will add to the company’s data and analytics.
According to David Lichtblau, the chief executive officer of the website, the move is exciting for both parties.
“We are excited to become a part of Bats while continuing our mission as the leading provider of unique, proprietary ETF-focused content,” he said in a statement.
Meanwhile, Chris Concannon, the CEO of Bats, believes the deal will benefit both parties.
“This acquisition of the innovative ETF.com business underscores our commitment to the ETF industry and our focus on providing unique, value-added content for issuers, brokers, financial advisors, market professionals and investors,” he said in a statement.
“We are excited to acquire a company that shares the Bats culture and dedication to the continuing education of investors and other market constituents.”