In a play targeting individual investors, online investment research firm Multex.com, Inc. Wednesday bought finance
content provider Market Guide Inc. in a stock deal worth $162.4 million
Market Guide shareholders will receive one Multex.com share for each outstanding share of Market Guide, or about 5.6 million million shares.
Market Guide expects to list Multex.com’s investment research and earnings
estimates
in its Web site and on more than 100 Internet distribution partners, including America Online, E*Trade, and Yahoo!.
Multex.com will integrate Market Guide’s financial databases into all its
Internet research services.
“Market Guide represents an excellent strategic and financial transaction for
Multex.com,” said Isaak Karaev, Multex’s president and CEO. “We look forward to
leveraging Market Guide’s premiere content as well as working closely with
Market Guide’s strategic distribution partners.”
“Together, we will supply more professional Web sites with investment data than
any other financial
information provider,” said Homi Byramji, President and CEO of Market Guide.
“In addition, the combination of our broad network of Internet distribution partners will enable millions of individual and institutional investors worldwide to access our leading content.”
Market Guide supplies investment data on more than 12,000 publicly traded domestic and foreign corporations.
In another recent move targeting individual investors, Multex.com launched information service Multex Investor Network.
