IHS Markit has completed an $1.8 billion acquisition of Ipreo, a financial services solutions and data provider.
Previously, IHS Markit had announced its intent to acquire Ipreo from private equity funds managed by Blackstone and from the Goldman Sachs Merchant Banking Division back in May. The deal was closed on 2 August.
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 information and tools for more effective decision-making and more efficient workflow, minimising the increasing costs and complexities of operating in the capital markets.
Lance Uggla, chairman and CEO of IHS Markit, said: “We are moving quickly to integrate the IHS Markit and Ipreo services across multiple business lines to provide greater value to our customers. We look forward to seeing them benefit from our combined data, intelligence and workflows.”
Adam Kansler, president of financial services for IHS Markit, commented: “With the combination of IHS Markit and Ipreo, we are bringing together businesses with strong adjacencies and a large combined opportunity.”
He added: “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.”
Kevin Marcus, formerly president and COO of Ipreo and now head of the Ipreo businesses for IHS Markit, said: “Having worked together on the integration planning since May, it is clear that our teams have a lot in common.
He added: “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.”
