Bats Global Markets agrees to buy ETF.com

Lenexa-based Bats Global Markets said it has agreed to buy ETF.com, an online news and data source focused on investment funds that trade on exchanges as stocks do.

The announcement did not disclose terms of the transaction, which the companies expect to be completed Friday. It said ETF.com chief executive David Lichtblau would continue in that role and report to Bats head of U.S. markets Bryan Harkins.

ETF.com would operate as an independent media subsidiary. Bats operates stock, option and currency markets in the United States and abroad. It is the primary listing market for about 70 exchange traded fund from groups that include iShares, ProShares and Wisdom Tree.

Bats Global Markets chief executive Chris Concannon said buying ETF.com reflects a commitment to the exchange traded funds industry.

Bats intends to list its own shares for public trading following an initial stock offering registered with the Securities and Exchange Commission.

This story was originally published March 29, 2016 at 2:47 PM with the headline "Bats Global Markets agrees to buy ETF.com."