The ValuSpread business is a leading supplier of precise and regular market data on credit default swaps to the financial industry. It has grown significantly since its launch in 1999, and supplies data and related analytics, on a daily basis, for both plain vanilla instruments and complex structured credits to leading market makers and other sell and buy side organizations. This data is used to meet internal and external regulatory requirements.
The transaction will also provide Lombard Risk with continued long-term access to high quality consensus data from the ValuSpread service for use in its independent valuations business through a long-term data subscription from Fitch Ratings.
Commenting on the sale, John Wisbey, Chairman & Chief Executive of Lombard Risk Management plc, said: "ValuSpread has been a profitable business which we believe has the greatest potential for growth and synergistic development within the Fitch Ratings business. We see tremendous growth opportunities in the areas of specialist financial software and independent valuation services, and the capital raised from this transaction will provide additional capability for the Lombard Risk Group to execute its strategic plan and aggressively pursue those opportunities".