LONDON--(BUSINESS WIRE)--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.
Financial details
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.
IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners © 2018 IHS Markit Ltd. All rights reserved.
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Important risk factors that may cause such a difference include, but are not limited to, those risks discussed in IHS Markit’s most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q, along with its other filings with the US Securities and Exchange Commission (the “SEC”), which are available at www.sec.gov or on the investor relations section of its website, www.ihsmarkit.com, and (i) the completion of the proposed transactions on anticipated terms and timing, including obtaining regulatory approvals, potential accretion, anticipated tax treatment, unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, benefits, operating efficiencies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies for the management, expansion and growth of IHS Markit’s operations, and other conditions to the completion of the proposed transactions; (ii) expectations regarding continued availability and terms of capital and financing, including financing required to consummate the proposed transactions, rating agency actions, and debt repayments; (iii) the risk that disruptions from the proposed transactions will harm IHS Markit’s business, including current plans and operations; (iv) the ability of IHS Markit to complete the integration or separation of the proposed transactions, including retaining and hiring key personnel; (v) potential business uncertainty, including changes or adverse reactions to existing business and customer relationships, from the announcement, during the pendency and after completion of the proposed transactions; and (vi) the potential negative effects of the announcement of the proposed transactions on the market price of IHS Markit’s common shares. 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