Interactive Data Holdings (IDC), which provides financial institutions with market data and services, officially withdrew its plans for an initial public offering on Wednesday.
In late October, the company announced that it would be acquired by Intercontinental Exchange (NYSE: ICE) for $5.2 billion, including $2.2 billion in net debt. IDC filed in October for an IPO that we estimate could have raised $700 million, but had reportedly been in the dual track process since June.
Strategic buyer ICE had reportedly been bidding for IDC against June 2014 IPO Markit (MRKT) and Nasdaq OMX Group.
The Bedford, MA-based company was founded in 1968 and booked $940 million in sales for the 12 months ended June 30, 2015. It had filed to list on the NYSE under the symbol IDC. Morgan Stanley, Barclays, BofA Merrill Lynch, UBS Investment Bank, Citi, Credit Suisse, Deutsche Bank, Evercore ISI, Goldman Sachs and Wells Fargo Securities were set to be the joint bookrunners on the deal.
