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Data Broadcasting Corp.
has completed the sale of its Shark Information Services Corp. subsidiary to ADP. The agreement is for approximately $18 million in cash, plus the assumption of approximately $2 million in debt. The deal represents yet another step in ADP's march into the buy-side marketplace (IMD, March 13). Though the majority of Shark's client base resides on the sell side, the vendor does have a significant number of terminals in the institutional market.PC Quote Inc.
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