August 3, 2011 / 12:50 PM / 6 years ago

UPDATE 1-TMX Group buys Atrium Network

* Deal allows TMX to expand connectivity in U.S., Europe

* No value given for deal; TMX says terms ‘not material’

TORONTO, Aug 3 (Reuters) - TMX Group Inc (X.TO) said on Wednesday that it had bought Atrium Network in a deal that will allow the operator of the Toronto Stock Exchange to fast-track plans to expand into new service areas.

Atrium, a network solutions company that will be renamed Atrium TMX, has existing connectivity platforms that cover service areas in North America and Europe.

“Atrium Network extends our connectivity solutions into Europe and expands our U.S. presence significantly ahead of schedule,” Eric Sinclair, president of the company’s TMX Datalinx information services division, said in a release.

The combined network will offer 25 points of presence in 11 countries, 24 trading venues and 300 sources of data with room for expansion, TMX said.

The deal will allow TMX to add additional content from market centers in Europe and North America.

TMX did not disclose the value of the deal, saying the terms were “not material.”

A consortium aiming to buy TMX extended the deadline for its C$3.8 billion ($3.96 billion) tender offer to Sept. 30, as it continues to seek the necessary regulatory approvals. [ID:nN1E77207J]

$1=$0.96 Reporting by Julie Gordon; Editing by Lisa Von Ahn

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