When and why did Pearson merge its financial information business (called FT Interactive Data at the time) with Data Broadcasting Corporation?
Immediately prior to the merger, FT Interactive Data (now known as Interactive Data Pricing and Reference Data) was indirectly wholly owned by Pearson plc (NYSE: PSO), the international media company. FT Interactive Data merged with Data Broadcasting Corporation on February 29, 2000. The merger was designed to create a powerful end-to-end solution provider of critical, real-time, actionable financial data and information services for both institutional and retail investors. Data Broadcasting’s name was changed to Interactive Data on June 15, 2001 to take advantage of the Company’s brand equity in the institutional investor marketplace and to more accurately reflect its current business model.
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