IHS Markit, a London-based data provider, has wrapped up the acquisition of Ipreo, a New York-based financial services solutions and data provider, from Blackstone and Goldman Sachs.
The transaction, first announced in May 2018, is valued at $1.85bn. Blackstone and Goldman Sachs acquired Ipreo from Kohlberg Kravis Roberts & Co. (KKR) in 2014.
IHS Markit president of financial services Adam Kansler said: “With the combination of IHS Markit and Ipreo, we are bringing together businesses with strong adjacencies and a large combined opportunity.
“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.”
Former Ipreo president and COO Kevin Marcus will now lead the Ipreo businesses for IHS Markit.
“Having worked together on the integration planning since May, it is clear that our teams have a lot in common. 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,” Marcus noted.