Interactive Data Corporation, the Massachusetts-based technology firm which includes wealth managers among its clients, has agreed to be acquired by investment funds managed by Silver Lake and Warburg Pincus in a deal valued at $3.4 billion.

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 approximately 32.9 per cent over the closing share price on 14 January 2010, the last trading day before the company announced that its board of directors was conducting a review of strategic alternatives, the firm said in a statement.

"Silver Lake and Warburg Pincus both have significant experience investing in market-leading companies at the intersection of financial services and technology. Interactive Data is particularly well-positioned as a global financial technology growth platform, and we expect a strong partnership between our firms and Interactive Data's customers and employees in pursuing this opportunity," said Mike Bingle, managing director of Silver Lake.

The deal, in which Silver Lake and Warburg Pincus are equally equity partners, is expected to complete by the end of the third quarter of the year, subject to the necessary regulatory approvals and other closing conditions.