Symphony Technology Group has closed its buy of McGraw Hill Construction from McGraw Hill Financial. The price of the acquisition was $320 million in cash. McGraw Hill Construction is a provider of data and insights for construction professionals.
NEW YORK, Nov. 3, 2014 /PRNewswire/ — McGraw Hill Financial (NYSE: MHFI) today announced it has completed the previously disclosed sale of McGraw Hill Construction to Symphony Technology Group.
As announced on September 22, 2014, the sale price was $320 million in cash and the transaction completes the portfolio rationalization to create McGraw Hill Financial.
“Completing this transaction enables us to apply even greater focus and resources toward the ongoing growth of McGraw Hill Financial,” said Douglas L. Peterson, President and Chief Executive Officer of McGraw Hill Financial. “I want to thank the employees of McGraw Hill Construction for their contributions to the company over many years and wish them every success in the future.”
About McGraw Hill Financial:
McGraw Hill Financial is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. The Company’s iconic brands include: Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL and J.D. Power. The Company has approximately 17,000 employees in 30 countries. Additional information is available at www.mhfi.com.