Add-on Acquisition • Financial Services

Ideanomics Acquires Delaware Board of Trade

On May 3, 2019, Ideanomics acquired financial services company Delaware Board of Trade for 18M USD

Acquisition Context

This is Ideanomics’ 1st transaction in the Financial Services sector.
This is Ideanomics’ largest (disclosed) transaction.
This is Ideanomics’ 2nd transaction in the United States.
This is Ideanomics’ 1st transaction in Delaware.

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M&A Deal Summary
Date	May 3, 2019
Target	Delaware Board of Trade
Sector	Financial Services
Buyer(s)	Ideanomics
Deal Type	Add-on Acquisition
Deal Value	18M USD

Target Company

Delaware Board of Trade

Wilmington, Delaware, United States

Delaware Board of Trade operates three companies: (i) DBOT ATS LLC, an SEC recognized Alternative Trading System; (ii) DBOT Issuer Services LLC, focused on setting and maintaining issuer standards, as well as the provision of issuer services to DBOT designated issuers; and (iii) DBOT Technology Services LLC, focused on the provision of market data and marketplace connectivity. DBOT is a FINRA Member Firm, and a member of the Securities Investor Protection Corporation ("SIPC"), that operates a fully automated, auto-execution Alternative Trading System ("ATS").

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Buyer Overview 1

Buyer

Ideanomics

New York, New York, United States

Category	Company
Founded	2004
Sector	Software
Employees	295
Revenue	15M USD (2023)

DESCRIPTION

Ideanomics is a global fintech advisory and Platform-as-a-Service company. Ideanomics combines deal origination and enablement with the application of blockchain and artificial intelligence technologies as part of the next-generation of financial services. Ideanomics was founded in 2004 and is based in New York, New York.

Deal Context for Buyer	#
Overall	3 of 9
Sector: Financial Services	1 of 1
Type: Add-on Acquisition	2 of 7
State: Delaware	1 of 1
Country: United States	2 of 7
Year: 2019	3 of 3
Size (of disclosed)	1 of 1

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2019-03-05	Tree Motion Sdn. Bhd. Kembangan, Malaysia Tree Motion Sdn. Bhd. is an exclusive sales and distribution arm of Treeletrik which manufactures EV mopeds and bikes into a full range of vehicles including EV Buses, Trucks, Cars, and Light Rail	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2019-03-05

Tree Motion Sdn. Bhd.

Kembangan, Malaysia

Tree Motion Sdn. Bhd. is an exclusive sales and distribution arm of Treeletrik which manufactures EV mopeds and bikes into a full range of vehicles including EV Buses, Trucks, Cars, and Light Rail

Buy

FOLLOWING DEAL

DATE	TARGET	DEAL TYPE	VALUE
2020-11-12	Timios Holdings Westlake Village, California, United States Timios Holdings Corp. is a provider of unparalleled real estate transaction experience for buyers, sellers, and professionals. By empowering customers through innovation, providing total transparency, and simplifying every step, the company has revolutionized the process to give its customers the control they deserve. Timios Holdings Corp. was formed in 2008 and is based in Westlake Village, California.	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2020-11-12

Timios Holdings

Westlake Village, California, United States

Timios Holdings Corp. is a provider of unparalleled real estate transaction experience for buyers, sellers, and professionals. By empowering customers through innovation, providing total transparency, and simplifying every step, the company has revolutionized the process to give its customers the control they deserve. Timios Holdings Corp. was formed in 2008 and is based in Westlake Village, California.

Buy

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