UK-based business intelligence firm IHS Markit is to buy financial data analysis specialist Ipreo from Blackstone and Goldman Sachs for $1.86bn. Ipreo's services are mainly used by investment banks working on initial public offerings. IHS Markit anticipates rapid growth in Ipreo's specialist areas of private equity, hedge funds, property and commodity trading and predicts the alternative investment sector will be worth $20tn by 2025. The deal comes as a number of US companies have been looking at ways to use blockchain technology to improve their services.
UK-based business intelligence firm IHS Markit is to buy financial data analysis specialist Ipreo from Blackstone and Goldman Sachs for $1.86bn. Ipreo's services are mainly used by investment banks working on initial public offerings. IHS Markit anticipates rapid growth in Ipreo's specialist areas of private equity, hedge funds, property and commodity trading and predicts the alternative investment sector will be worth $20tn by 2025. The deal is expected to close later this year and IHS said it would suspend its share buyback programme until its debt levels returned to its targeted leverage ratio.