Toronto Stock Exchange operator TMX buys remaining stake in VettaFi for $848 million

In January, the group took a 21% stake in the New York City-based firm, which values the total deal at $1.03 billion. The deal will be financed through bank debt of up to $1 billion in term loans, and will add to TMX's adjusted earnings per share in the first year of the deal, excluding synergies, the company said in a statement. "From a strategic standpoint, this acquisition accelerates TMX's long-term global expansion, and increases the proportion of revenue derived from our Global Solutions, Insights and Analytics division, and from recurring sources," said John McKenzie, CEO of TMX Group.