Interactive Data Corporation (IDC)
In 2010, Warburg Pincus and Silver Lake Partners completed the take-private acquisition of Interactive Data Corporation (IDC), a leading provider of financial market data, analytics, and trading solutions. IDC is a market leader in evaluated pricing, providing independent pricing for a variety of thinly traded and hard to value securities to banks, asset managers, and other financial institutions that are required to mark their books daily. IDC is also a leading provider of reference data, offering clients access to critical descriptive information and corporate actions data covering over ten million financial instruments. Following the initial investment, Warburg Pincus worked closely with the company to implement several value-add initiatives. The Warburg Pincus team helped significantly upgrade the entire senior management team, including recruiting a new CEO, COO, CFO, and CIO (all of whom had worked with the sponsor group previously) to lead the company. Warburg Pincus partnered with this new team to plan and execute a multi-year, $100 million technology investment program that resulted in a complete re-platforming of the company’s core pricing and reference data technology stack. As a result of this significant investment program, IDC was able to launch new products that drove a significant increase in organic revenue growth, as well as improve platform stability and realize significant cost savings related to the elimination of legacy processes and systems. Additionally, Warburg Pincus worked with the IDC team to transform the company’s salesforce from a historically farming-focused culture to a more professional global team with a focus on winning new business. Following a period of significant investment to drive the organic growth of the business, Warburg Pincus exited the investment in 2015 through a strategic sale to Intercontinental Exchange.
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