Acquisition

13th Jan 2005 15:00

ICAP PLC13 January 2005 ICAP plc acquires outstanding shares in GovPX, Inc. for $13 million New York, January 13, 2005-- ICAP plc (IAP.L), the world's largest voice andelectronic interdealer broker, today announced that it is acquiring theoutstanding shares in GovPX, Inc. for $13 million. GovPX is a leading provider of US fixed income and derivative information thatis distributed worldwide on a 24-hour basis. This information is distributedunder the GovPX, AgencyPX, RepoPX and SwapPX brands. GovPX, Inc. was founded in 1990 by the major bond dealers and inter-dealerbrokers in order to address price transparency issues in the US Treasurymarketplace. Since the inception of GovPX, ICAP has been involved with itsproducts by participating, co-creating and supplying additional sets ofinformation. GovPX is primarily distributed as an optional service via the majormarket data vendors which include Bloomberg, Reuters and Telerate and deliverydirect to client sites. Through these distribution channels, GovPX supports inexcess of 1,000 client sites and has over 8,000 subscribers. In addition, GovPXoffers services to disseminate end of day and historical data. John Nixon, Global Head of ICAP's Information business said, "ICAP has been apartner and data supplier to GovPX since its inception. The widely recognizedGovPX brand and its network of subscribers is an attractive fit to our existinginformation business. We intend to continue the GovPX mission of co-minglingdata from various sources, including other interdealer brokers and dealers, asproducts warrant. We also look forward to enhancing and diversifying theproducts offered to GovPX's clients." "We are excited to have certainty in continuing our mission with ICAP, ahighly-regarded and respected source of information in the fixed income andderivative marketplace. The content that we currently have, in addition to thebreadth of content ICAP will be able to provide, is a tremendous springboard forus to expand our product offering, " stated Lawrence Leuzzi, CEO of GovPX Inc. GovPX will continue to operate as a separate company within ICAP's Informationbusiness as a market data optional service provider under the direction of CEOMr. Leuzzi. In 2004, GovPx operated as a C-Corp and had total revenues of$15.3m. The acquisition includes GoxPX's working capital of $2.3 million. Contacts: Ivette Collazo ICAP North America - Communications Director 201-209-7831 About ICAP ICAP is the world's largest voice and electronic interdealer broker with a dailyaverage transaction volume in excess of $700 billion, 50% of which iselectronic. The Group is active in the wholesale market for OTC derivatives,fixed income securities, money market products, foreign exchange, energy, creditand equity derivatives. About GovPX, Inc: Founded in 1990 by the leading Wall Street dealers and brokers to providereal-time prices, and other related market information on the U.S. GovernmentTreasury securities market, GovPX, Inc. today serves a global marketplace withreal-time prices and information regarding all aspects of the fixed-incomemarketplace. GovPX, Inc. U.S. products include: GovPX Treasuries, SwapPX,RepoPX, AgencyPX, End-of-Day Treasuries and Swaps, and Historical Database.Bloomberg, Reuters Bridge, MoneylineTelerate, CQG, Fidelity and othersdistribute the GovPX family of products to a worldwide audience. The GovPX, Inc.network disseminates data in fixed-format pages or by digital information feed.The digital format supports proprietary analytics and user-customized screens.For additional GovPX information, see www.govpx.com. This information is provided by RNS The company news service from the London Stock Exchange

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