(JNS.org) Financial giant Intercontinental Exchange (ICE) has agreed to purchase the Israeli-founded SuperDerivatives for an estimated $350 million.
The deal is for cash and is expected to be wrapped up some time in the last quarter of this year. ICE is assessed to be worth some $20 billion. SuperDerivatives was founded in 2000 by Dr. David (Dudi) Gershon to bring transparency to option pricing, a complex field that uses complicated mathematical formulas and models to arrive at pricing. Its business headquarters are located in New York, and the company also has a research and development center in Tel Aviv. ICE Chairman and CEO Jeffrey C. Sprecher told The Wall Street Journal that SuperDerivatives “is an innovative developer of valuable derivatives data and technology, and will play a key role in extending our financial market clearing and data capabilities.”