First Derivatives Buys Toronto-Based LakeFront Data Ventures

LONDON (Dow Jones)--First Derivatives PLC (FDP.LN), a software provider to investment banks and hedge funds, Monday said it has acquired a Toronto-based data management and financial information consulting company for an unknown cash payment and 82,602 new shares. Based on Friday's closing price of 312.5 pence a share, the shares alone would be worth around GBP258,131. The company said the acquisition of LakeFront Data Ventures will extend its offering in consulting and advisory services. It added that the LDV team will continue to be based in Toronto, working at other sites across the First Derivatives group as required. -By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; rachael.gormley@dowjones.com (END) Dow Jones Newswires August 02, 2010 02:35 ET (06:35 GMT)