TradeWeb set to acquire BondDesk

By Staff Reporter

Sep 11, 2013 11:04 PM EDT

Tradeweb, the fixed income trading platform provider is deep in discussion for the buyout of BondDesk Group LLC. The deal is estimated to be valued at USD200 million, according to a report from Reuters citing two sources familiar with the situation.

Hedge fund furm Advent International Corp had engaged the services of Broadhaven Capital Partners LLC to sell off BondDesk. Among the bidders for the firm was Tradeweb and rival firm MarketAxess Holdings Inc. 

Both BondDesk and TradeWeb declined to make a comment while a phonecall to Broadhaven was not returned.

The discussions between BondDesk and TradeWeb have reached the advanced stage but there is still a possibility that the deal would not push through. This was the caution aired by the sources, who spoke on condition of anonymity as they were not given authorization to discuss the matter with the media.

The acquisition of BondDesk by the Thomson Reuter Corp owned TradeWeb would serve the latter a larger presence in the retail investment market. This is based on the claim that BondDesk is the largest retail bond trading platform available online.

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