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NDAQ » Topics » Acquisition of Carpenter Moore

This excerpt taken from the NDAQ 10-Q filed Nov 8, 2005.

Acquisition of Carpenter Moore

 

On September 30, 2005, Nasdaq funded $27.5 million for the acquisition of Carpenter Moore Insurance Services, Inc. (“Carpenter Moore”), a privately held, San Francisco-based insurance brokerage firm specializing in management liability. On October 1, 2005, Nasdaq completed the acquisition of Carpenter Moore. The addition of Carpenter Moore will increase Nasdaq’s depth of brokerage expertise in directors and officers, errors and omissions and other management liability insurance products. It will also significantly expand regional coverage by Nasdaq’s insurance business through Carpenter Moore’s unique co-brokerage distribution model. Nasdaq’s acquisition encompasses four of Carpenter Moore’s geographic locations, including California, Texas, Minnesota and Massachusetts. Beginning October 1, 2005, Nasdaq will consolidate Carpenter Moore’s financial position and results of operations in Nasdaq’s consolidated financial statements.

 

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