Tradeweb completes $785M all-cash acquisition of ICD; expects accretion to adjusted EPS in 12 months

Tradeweb Markets Inc.

Acquired ICD for $785M in cash, funded from cash on hand; also issued $4.5M in restricted Class A stock to an ICD equityholder.
Adds corporate treasury professionals as a fourth client channel, accessing a $2+ billion addressable market.
CEO Billy Hult cites ICD as gateway to underserved corporate treasury market; expects accretion to adjusted EPS within 12 months.
ICD serves 500+ corporate treasury organizations, including ~17% of S&P 100, across 65 industries and 45+ countries.

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