Reuters TMX Group, the owner of the Toronto Stock Exchange, said on Wednesday it had acquired an around 78 stake in U.S. data analytics company VettaFi Holdings for 848 million C1.14 billion.

In January, the group took a 21 stake in the New York Citybased firm, which values the total deal at 1.03 billion.

The deal will be financed through bank debt of up to 1 billion in term loans, and will add to TMX39;s adjusted earnings per share in the first year of the deal, excluding synergies, the company said in a statement.

From a strategic standpoint, this acquisition accelerates TMX39;s longterm global expansion, and increases the proportion of revenue derived from our Global Solutions, Insights and Analytics division, and from recurring sources, said John McKenzie, CEO of TMX Group.

As part of the deal, the operator will also assume 100 million of VettaFi39;s debt.

VettaFi provides a database of exchangetraded funds ETFs, analytics and indices, and the exchange operator39;s analytics business.

1 Canadian dollar 0.7422

Reporting by Urvi Dugar in Bengaluru; Editing by Rashmi Aich and Sonia Cheema

Source Reuters