New York, United States and Tokyo, Japan
Instinet, Inc., a global agency broker, today announced that it has entered into a definitive agreement to be acquired in an all cash transaction by Nomura Holdings, Inc, a leading Japan-based, global financial services firm. Instinet is majority owned by Silver Lake Partners, the leading private equity firm focused on large-scale investments in technology and related industries. The purchase price was not disclosed.
Upon completion of the transaction, which is subject to regulatory approvals and is expected in the first quarter of 2007, Instinet will be operated as a wholly-owned subsidiary and brand of Nomura offering agency execution services to institutional clients around the world. Senior management, including CEO Edward J. Nicoll, will continue to run the firm.
"Nomura is one of the world's premier financial services firms, and we are excited to join its family," said Nicoll. "This deal will allow us to continue offering our institutional clients around the world the high-quality execution services that they have come to expect from Instinet, while adding access to Nomura's various investment product offerings and global liquidity pool."
"Instinet has become one of the world's largest agency brokers through the superiority of its people, technology and business model, and it has been a privilege to work alongside the firm," said Mike Bingle, Managing Director at Silver Lake Partners. "Nomura is a perfect fit for Instinet going forward, and we have every confidence that the business will continue to thrive."
"Instinet is a true pioneer in field of electronic trading, offering world-class front-end trading products, crossing platforms and algorithms," said Mr. Hiromasa Yamazaki, Senior Managing Director of Nomura Securities. "The firms complement each other remarkably well, and we fully expect both of our client bases to benefit greatly. All of Nomura's business divisions warmly welcome Instinet to our group."
About Instinet
Instinet Inc., through its subsidiaries, acts as a global agency broker, providing the trading expertise and advanced technology necessary to successfully interact with more than 50 securities markets worldwide. Acting solely as an agent for its customers, which include international mutual funds, insurance companies, pension funds and hedge funds, Instinet seeks to improve institutional investment performance and lower overall trading costs through its various front end trading systems, securities crossing networks, algorithms and investment research products. The company is headquartered in New York and maintains offices in North America, Europe and the Asia Pacific region. For more information, please visit www.instinet.com. Instinet conducts its U.S. institutional brokerage business primarily through Instinet, LLC, member NASD/SIPC.
About Silver Lake Partners
Silver Lake Partners is the leading private equity firm focused exclusively on large-scale investing in technology and related growth industries. Silver Lake seeks to achieve superior returns by investing with the strategic insight of an experienced industry participant, the operating skill of a world-class manager and the financial expertise of a disciplined private equity investor. Specifically, Silver Lake's mission is to function as a value-added partner to the management teams of the world's leading technology franchises. Its portfolio companies include technology industry leaders such as Avago, Flextronics, Gartner, IPC Systems, NASDAQ, Network General, NXP (formerly the semiconductors business of Royal Philips Electronics), Seagate Technology, Serena Software, SunGard Data Systems, Thomson and UGS. For more information, please visit www.silverlake.com.
About Nomura Group
Nomura is a global financial services group dedicated to providing a broad range of financial services for individual, institutional, corporate and government clients. The Group offers a diverse line of competitive products and value-added financial and advisory solutions through its global headquarters in Tokyo, 139 branches in Japan, and an international network in 29 countries; with regional headquarters in Hong Kong, London, and New York. The Group's business activities include investment consultation and brokerage services for retail investors in Japan, and, on a global basis, brokerage services, securities underwriting, investment banking advisory services, merchant banking, and asset management. For further information about Nomura please visit our website at www.nomura.com.
(C)2006 Instinet Inc. All rights reserved. INSTINET is a registered service mark in the United States and in other countries throughout the world.
CONTACT: Instinet, Inc. Media Relations: Mark Dowd 212-310-5331 mark.dowd@instinet.com
CONTACT: Instinet, Inc. Media Relations: Mark Dowd 212-310-5331 mark.dowd@instinet.com , ,
Source: Business Wire (Business Wire India)