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) and Goldman Sachs (GS). 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
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