BEDFORD, Mass. (

TheStreet

) --

Interactive Data

( IDC) agreed to be acquired by private-equity groups Silver Lake and Warburg Pincus in a transaction valued at $3.4 billion.

Interactive Data, in a press release Tuesday, said

Pearson

(PSO) - Get Report

, which owns a 61% stake in the financial-market data provider, approved the transaction.

Pearson, publisher of the

Financial Times

, said earlier this year it was reviewing strategic alternatives for Interactive Data.

Under the agreement, Interactive Data's stockholders will receive $33.86 in cash for each share of Interactive Data common stock they own. This represents a premium of about 32.9% over the closing share price on Jan. 14, the last trading day before the company announced it was conducting a review of strategic alternatives, Interactive Data said.

Interactive Data shares closed Monday at $32.99.

The transaction is expected to be completed by the end of the third quarter.

-- Reported by Joseph Woelfel in New York.

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