M&A Deal Summary

Instinet Group Acquires TORC Financial

On August 26, 2009, Instinet Group acquired software company TORC Financial

Acquisition Highlights
  • This is Instinet Group’s 1st transaction in the Software sector.
  • This is Instinet Group’s 1st transaction in the United States.
  • This is Instinet Group’s 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2009-08-26
Target TORC Financial
Sector Software
Buyer(s) Instinet Group
Deal Type Add-on Acquisition
Advisor(s) Freeman & Co. (Financial)

Target

TORC Financial

Philadelphia, Pennsylvania, United States
TORC Financial, LLC, a provider of derivatives trading technologies.

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Buyer(S) 1

Buyer

Instinet Group

New York, New York, United States

Category Company
Sector Financial Services
DESCRIPTION

ECN, a pioneer in electronic marketplaces, which was the second Electronic Communication Network (ECN) to receive regulatory approval from the SEC.


DEAL STATS #
Overall 1 of 1
Sector: Software M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Pennsylvania M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2009 M&A 1 of 1