CBOE Holdings has finalised the acquisition of the market data services and trading analytics platforms of Livevol, a provider of equity and index options technology and market data services to professional and retail traders, effective 7 August.
Financial terms of the deal were not disclosed.
CBOE Holdings' acquisition includes the Livevol Core, Livevol Pro and Livevol X trading analytics platforms, as well as Livevol Enterprise and other market data solutions products. Livevol Securities, Inc., the company's broker-dealer unit, was not part of the deal.
The deal, which was announced in June, was approved by the boards of directors of both CBOE Holdings, Inc and Livevol, Inc.
The acquired properties are subsidiaries of CBOE Holdings. Livevol's 23 employees and technology consultants will join CBOE, with the business development staff reporting to Andy Lowenthal (pictured), Senior Vice President of CBOE's Business Development Group; the technology staff reporting to Gerry O'Connell, CBOE Executive Vice President and Chief Information Officer; and the help-desk staff reporting to Anthony Montesano, CBOE Vice President, Trading Systems Development.
CBOE's acquisition of Livevol was funded with existing cash. It is not expected to be material in terms of CBOE Holdings' revenue or earnings per share for 2015, but the company expects the acquisition to be accretive to earnings per share in 2016.
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