Advent, Bain Team Up for IDC Bid

LONDON/NEW YORK (Reuters) – Private equity firms Advent International and Bain Capital are working together on a bid for financial market data provider Interactive Data Corp (IDC.N), a person familiar with the matter said on Friday.

Advent and Bain teamed up after Pearson-controlled Interactive Data, which said in January it is reviewing strategic options, encouraged buyout firms to do so.

Hellman & Friedman and Silver Lake Partners are also working together on a bid, other sources said previously.

Publishing group Pearson PLC (PSON.L), which owns the Financial Times newspaper as well as the world’s biggest educational publishing business and Penguin books, has a 61 percent stake in Interactive Data. At current market values, Pearson’s stake is worth about $1.5 billion.

Some of the firms are also considering offers for the Pearson stake, another source previously said. [ID:nLDE61G2C6]

Pearson could use the proceeds to buy companies that focus on digital learning or education in emerging markets, where it has been active recently.

Interactive Data and Pearson representatives declined to comment.

(Reporting by Victoria Howley and Megan Davies; Additional reporting by Georgina Prodhan and Anupreeta Das; Editing by Bernard Orr)