Home / Business and Economy / Tradeweb Buys Trumid for $1.97B to Dominate US Bonds
Tradeweb Buys Trumid for $1.97B to Dominate US Bonds
20 Oct
Summary
- Tradeweb is acquiring Trumid for approximately $1.97 billion.
- The deal aims to significantly expand Tradeweb's US corporate bond market presence.
- Acquisition is expected to close in the first half of 2027.
Tradeweb Markets has agreed to purchase the bond-trading platform Trumid for approximately $1.97 billion. This significant acquisition is poised to enhance Tradeweb's standing within the US corporate bond sector.
The deal, valued at $1.75 billion for Trumid's business plus $220 million for tax assets, will see Tradeweb pay $1.89 billion in cash and $82 million in stock. It is slated for completion in the first half of 2027.
This integration will broaden Tradeweb's influence in new bond issuance and grey-market trading, enabling comprehensive client service across all stages of the bond lifecycle. The company anticipates this move will boost its adjusted earnings per share in the year following the close.
Trumid, backed by notable investors, operates an electronic trading platform for US dollar-denominated corporate bonds, covering various debt types. Morgan Stanley and Goldman Sachs advised Tradeweb and Trumid, respectively.
