IHS Markit Ltd has completed its previously announced acquisition of Ipreo, a financial services solutions and data provider, for $1.855 billion. The sellers were private equity funds managed by BlackStone and Goldman Sachs. Barclays was lead financial adviser to IHS Markit with HSBC also serving as financial adviser.
LONDON (August 2, 2018) – IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, has completed its $1.855 billion acquisition of Ipreo, a leading financial services solutions and data provider. Previously, IHS Markit had announced its intent to acquire Ipreo from private equity funds managed by Blackstone (NYSE:BX) and from the Goldman Sachs Merchant Banking Division on May 21, 2018; closing occurred today, August 2, 2018.
“We are moving quickly to integrate the IHS Markit and Ipreo services across multiple business lines to provide greater value to our customers,” said Lance Uggla, chairman and CEO of IHS Markit. “We look forward to seeing them benefit from our combined data, intelligence and workflows.”
“With the combination of IHS Markit and Ipreo, we are bringing together businesses with strong adjacencies and a large combined opportunity,” said Adam Kansler, president of financial services for IHS Markit. “In addition to expanding our core businesses, we are especially excited about our potential to grow in the alternatives segment with a focus on delivering tools for greater transparency and efficiency.”
“Having worked together on the integration planning since May, it is clear that our teams have a lot in common,” said Kevin Marcus, formerly president and COO of Ipreo and now head of the Ipreo businesses for IHS Markit. “There is a real focus on client service coupled with deep product expertise. As we combine our go-to-market strategies, we are excited by the potential to develop leading-edge solutions and connect market participants at scale.”
Ipreo supports all market participants in the capital-raising process, including banks, public and private companies, institutional and individual investors as well as research, asset management and wealth management firms. Its products and services equip clients with critical information and tools for more effective decision-making and more efficient workflow, minimizing the increasing costs and complexities of operating in the capital markets.
Barclays acted as lead financial advisor and HSBC was financial advisor to IHS Markit for the Ipreo acquisition. Davis Polk acted as legal adviser to IHS Markit. HSBC served as sole lead arranger and book runner for the acquisition’s committed debt financing. Davis Polk & Wardwell LLP acted as legal advisor.
About IHS Markit (www.ihsmarkit.com)
IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions.