London-based information and analytics firm IHS Markit has signed a definitive agreement to acquire Ipreo, a financial services solutions provider, for $1.855 billion.

The acquisition is expected to close in the second half of 2018, subject to customary closing conditions and regulatory filings and approvals, including with the UK Financial Conduct Authority and under the US Hart-Scott-Rodino Antitrust Improvements Act of 1976.

IHS Markit also announced today that, following a detailed review of its financial services businesses as part of a disciplined capital allocation strategy, it has initiated a process to sell MarkitSERV, its derivatives processing business.

Lance Uggla, chairman and CEO of IHS Markit, said the Ipreo acquisition represents an exciting opportunity to acquire a fast-growing financial services company with highly complementary business lines.

“Ipreo has an extremely strong brand in financial markets and its services are a logical and highly complementary extension to our financial services business and our customer base,” Uggla said. “Across multiple product lines, we will deliver a more comprehensive service that will allow clients to streamline their workflow and make quicker and better decisions. We are excited to expand our footprint in the rapidly growing alternatives sector.”

“This marks the coming together of two strong organizations for the greater benefit of all of our clients,” said Scott Ganeles, CEO of Ipreo. “IHS Markit will be a tremendous partner as we continue to build on our position as a leading provider to global capital markets participants.”

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