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Capital IQ to Buy TheMarkets.com: Report

NEW YORK ( TheStreet) -- Capital IQ , which provides market-data services, is buying smaller rival TheMarkets.com for $300 million, the Wall Street Journal reports, citing people familiar with the matter.

TheMarkets.com is a joint venture of several Wall Street banks, including JPMorgan Chase (JPM - Get Report) and Goldman Sachs (GS - Get Report). It was formed in 2000 as a way to provide banks' sell-side research to institutional investors, the Journal notes.

Capital IQ was purchased for $200 million in 2004 by Standard & Poor's, a unit of McGraw-Hill (MHP). It provides data and analytical tools to investment banks, private-equity firms and other financial-services clients, the Journal says.

-- Written by Joseph Woelfel



>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.

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