India, Oct. 20 -- Tradeweb Markets Inc. (TW), an electronic trading platform, said that it has inked a deal to acquire Trumid Holdings, LLC, a financial technology company, for around $1.97 billion, subject to adjustments, which is comprised of $1.75 billion for the business and approximately $220 million for tax assets being acquired.
The total consideration will consist of around $1.89 billion in cash and $82 million in equity. Tradeweb will fund the cash portion of the consideration primarily through cash on hand. The transaction is anticipated to close in the first half of 2027.
Billy Hult, CEO of Tradeweb, said: "This acquisition represents an important step forward in our ambition to make credit markets more efficient and provide cl...