Interactive Data plans to buy Japanese firm

Interactive Data Corp., a Bedford company that provides financial market data, said it intends to acquire a majority interest in a Japanese financial data firm for $20.2 million.

The Japanese firm is NTT DATA Financial Corp., or NDF, and it provides securities pricing, reference data, and related services to most of the major financial institutions in Japan, said Interactive Data, which added that the proposed acquisition is part of a larger strategy to grow its business in the Asia-Pacific region.

In a press release, Interactive Data said that it ultimately plans to acquire a 100 percent interest in NDF, and it noted that the two firms have been partners in a redistribution relationship in Japan for more than 14 years.

The company added that the transaction is expected to be completed by the end of 2008, contingent upon customary closing conditions.

After the transaction is closed, Interactive Data said it plans to change the name of NDF to Interactive Data Japan KK.
(By Chris Reidy, Globe staff)