TMX will acquire 78% of ETF tool VettaFi for US$848 million, bringing its shareholding ratio to 100%

TMX Group, operator of Canadian stock exchanges including the Toronto Stock Exchange and the Montreal Exchange, is set to complete its acquisition of VettaFi. TMX Group officially announced on December 13 that it had agreed to acquire the remaining 78% of VettaFi’s common shares for US$848 million. The announcement stated that the new transaction brings the total acquisition amount to US$1.03 billion, which includes TMX Group’s investment in approximately 22% of VettaFi’s common shares in the first half of 2023. VettaFi was founded in May 2022 by the merger of ETF Trends, ETF Database, Alerian and S-NetworkGlobal Indexes teams. VettaFi provides comprehensive global index and ETF services, including ETF trends and analysis, global ETF database and other tools. In addition to traditional financial ETFs, VettaFi also lists blockchain and cryptocurrency-related ETFs, including the VanEck Digital Transformation ETF (DAPP), which is up nearly 207% year-to-date. (Cointelegraph)