CBOE Holdings Acquires Majority Stake in Vest Financial

January 28, 2016

On January 25, 2016, CBOE Holdings, Inc. announced that it had acquired a majority equity interest in Vest Financial Group, Inc.


As a result of the investment, Vest Financial Group, Inc. (“Vest”) has become a majority owned subsidiary of CBOE Holdings, Inc. (“CBOE”). Several previous investors in Vest, including Payment Ventures, Y Combinator and First Round Capital, have exited in conjunction with the transaction. Karen Snood will continue as CEO of Vest, but Bill Kung will step down from his role as President in order to concentrate on Vest’s technology solutions business. Through the investment, CBOE’s proprietary products, strategy indexes and options enterprise will be integrated into Vest’s existing platform.

CBOE is the holding company for the Chicago Board Options Exchange, the CBOE Futures Exchange and other subsidiaries.

Founded in 2012, Vest serves investment advisor and brokerage firms through options-based strategies and packaged products.

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Investment Manager M&A, Transactions