Blackstone, Goldman Sachs exit Ipreo to IHS Markit in $1.85bn deal

Blackstone and the private equity arm of Goldman Sachs have agreed a $1.85bn sale of financial services data business Ipreo to Nasdaq-listed IHS Markit.

The company aims to provide financial services tech, data and analytics products to support all 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.

Since Blackstone and Goldman Sachs’ investment in 2014, Ipreo has grown its revenues by nearly 60 per cent.
The company said it completed three transformative acquisitions to form its fast-growing private capital markets segment, launched several major new products including an expansion into the buyside, created blockchain and data related joint ventures, and significantly expanded its presence globally.

Ipreo CEO Scott Ganeles said, “Our business has grown immensely under Blackstone and Goldman Sachs’ ownership, and we look forward to our next stage of expansion and innovation with IHS Markit.”

The buyout is expected to close in the second half of 2018, subject to customary closing conditions and regulatory filings and approvals.

Blackstone is currently in the process of making a $20bn investment in Thomson Reuters’ Financial & Risk unit, with its majority stake buy expected to be completed this summer.

Goldman Sachs has been very active in the FinTech market this year, with the firm recently leading the £13.6m funding round into online mortgage broker Trussle and the $64m Series C of e-commerce website developer BigCommerce.

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