RealTime IT News

Primark Acquires A-T Financial Information Inc.

Primark Corp. completed the acquisition of A-T Financial Information Inc. for $35 million in cash and said it will use the existing A-T Internet delivery system as the basis of a new investment service.

The new Internet service will combine information--real-time and historical securities prices, indices, company financial reports and documents, ownership, insider trading, earnings estimates, broker research, market- related economic analysis, forecasts and news--with securities trading and portfolio management capabilities.

The company said that the distinctive features of this new Internet service will be its global coverage of countries, markets, industries and securities, together with Primark forecasts and analytical tools. Most of the data will be drawn from Primark's financial and economic information businesses, along with third party information such as Dow Jones news to complete the service.

A-T's new North American real-time feed of securities prices will first be combined with Primark's existing European feeds and then expanded to worldwide coverage. Primark currently provides extensive securities trading and portfolio management services to investment professionals, and already collects most of the information to be included in the new service.

"The A-T acquisition is a catalytic step for Primark," said Joseph E. Kasputys, Primark's chairman and chief executive officer. "A-T has great growth prospects in its core business of delivering securities information and software to investment professionals. . .A-T's current Internet presence and new North American securities price feed gives us important capabilities for a global Internet investment service."

Primark already operates www.disclosure.com, which delivers company financial information through the Internet to over 400,000 users. It also offers broker research, earnings estimates, securities analysis, prices, economics, and high frequency market views and analyses.

For the retail community, Primark proprietary data is delivered via AOL, MSN, Stock Smart, FT.com, WSJ.com, Quote.com, E*Trade and others.

The initial release of the new Primark Web site will contain the A-T real-time feed, display and charting capabilities along with Primark's global company profiles and filings, earnings, broker research and market-relevant economic information. Launch is planned during the second quarter. The site will also contain links to banks and brokerage firms around the world. Pricing for services will use a tiered model.