| BOSTON and LONDON, December 21, 2004 – TA Associates, a leading private equity and buyout firm, today announced it has closed a minority investment in IntercontinentalExchange, Inc. (ICE®).
Based in Atlanta, ICE operates global over-the-counter (OTC) marketplaces for the trading of commodities on its Internet-based Interchangesm trading platform. Its subsidiary, the International Petroleum Exchange of London (IPE), is Europe's leading energy futures and options exchange. ICE’s transparent and liquid commodity markets have a broad distribution of more than 5,000 screens globally, listing hundreds of products in the precious metals, petroleum, natural gas and power complexes. The IPE provides highly regulated open-outcry and electronic marketplaces where market participants use futures and options to minimize their price exposure in the physical energy market. Over $2 billion daily in underlying value is traded on the IPE.
“We are pleased to welcome TA Associates as a shareholder of ICE. TA has a successful track record in the financial technology sector, a management-friendly approach and experienced investment professionals that can contribute to ICE’s continued growth,” said Jeffrey C. Sprecher, Chairman and CEO of IntercontinentalExchange.
“We are very pleased to add IntercontinentalExchange to our strong portfolio of financial technology leaders,” said Kenneth T. Schiciano, a Managing Director at TA Associates. “ICE is profitable and growing, with a dominant position in a very complex market. Jeff has built a high-quality management team, and we look forward to working with them to strengthen the company’s unique and leading position in several important energy markets.”
“We look for companies at the nexus of finance and technology that are taking advantage of a changing global marketplace,” said David S. B. Lang, a Managing Director at TA Associates. “ICE's execution capabilities, supported by real-time credit management and cleared products, electronic confirmations and market data services, provide users with exceptional market access and transaction control. These services will be increasingly in demand as more energy traders move to electronic execution and trade processing.”
TA Associates has more than 36 years of investing experience, focusing on profitable, growth-oriented companies. Since 1988, TA has invested over $1 billion in financial services and capital markets technology companies and is one of the leading private investors in the financial services and technology industries. TA’s investments in the financial technology sector include Datek Online Holdings (Ameritrade Holding Corporation), GlobeOp Financial Services, ION Trading Group, Island ECN (Instinet Group Incorporated), Lava Trading and Q UP (S1 Corporation).
TA Associates Founded in 1968, TA Associates is one of the largest and most experienced private equity and buyout firms. With offices in Boston, Menlo Park and London, the firm manages $6 billion in capital and has invested in 350 companies. TA Associates provides growth equity capital, leveraged recapitalization and management buyout financing primarily for technology, financial and business services, healthcare and consumer businesses. More information about TA Associates can be found at www.ta.com.
IntercontinentalExchange, Inc. IntercontinentalExchange® operates global OTC marketplaces for the trading of commodities on its Internet-based Interchange® trading platform. Its subsidiary, the International Petroleum Exchange of London (IPE), is Europe's leading energy futures and options exchange, providing regulated open-outcry and electronic marketplaces where participants use futures and options to manage their price risk exposure in the physical energy markets. IntercontinentalExchange is based in Atlanta, with offices in Chicago, Houston, London, New York and Singapore. For more information, please see www.theinterchange.com.
Safe harbor statement under the U.S. Private Securities Litigation Reform Act of 1995: Statements made in connection with this release which are not historical fact, such as forward-looking statements concerning future financial performance and growth, involve risk and uncertainties. Such statements are subject to various factors that could cause actual results to differ materially from those set forth in the forward-looking statements. Any forward-looking statements represent the best judgment of TA Associates and/or IntercontinentalExchange as of the date of this release. TA Associates and IntercontinentalExchange each disclaim any intent or obligation to update any forward-looking statements |