Visible Alpha, the financial technology
provider of deep industry and segment consensus data, will be a
part of the S&P Global Market Intelligence
division
S&P Global also intends to explore
strategic opportunities for Fincentric, its digital solutions
business, as part of a portfolio shift to accelerate focus in core
areas of strategic growth
NEW
YORK, Feb. 20, 2024 /PRNewswire/ -- S&P
Global (NYSE: SPGI) today announced an agreement to acquire Visible
Alpha, the financial technology provider of deep industry and
segment consensus data, sell-side analyst models and analytics from
high-quality, exclusive sources. The acquisition will create a
premium offering of fundamental investment research capabilities on
S&P Global Market Intelligence's Capital IQ Pro platform. The
combination of Visible Alpha with S&P Capital IQ Pro, the
flagship S&P Global platform for research and analysis across
institutional and corporate markets, reflects S&P Global's
continued commitment to be the foremost provider in this space.
![S&P Global logo (PRNewsfoto/S&P Global) S&P Global logo (PRNewsfoto/S&P Global)](https://mma.prnewswire.com/media/1918685/SandP_Global_Logo.jpg)
"We remain focused on providing our customers outsized value
with the very best capabilities," said Adam Kansler, President of S&P Global Market
Intelligence. "Visible Alpha has built an incredible reputation
with the market and is an ideal fit that will further strengthen
the quality of our offering as a leading provider. We have followed
Visible Alpha's growth and have been impressed with its pace of
innovation and the valuable insights it provides to its customers.
We look forward to welcoming them into the S&P Global family
and the Market Intelligence Division."
Founded in 2015, Visible Alpha is a financial technology firm
that provides consensus estimates and analytics from in-depth
sell-side analyst models, research reports and corporate access
events and distributes the data through a variety of distribution
channels including a web-based platform, APIs and Feeds. Visible
Alpha enhances the investment research process by extracting
meaningful value from key sell-side data and analytics, including
full working models from partnerships with approximately two
hundred of the world's premier investment research
organizations.
"We are thrilled to be joining forces with S&P Global and
have the opportunity to delight our combined customer base with the
combination of Visible Alpha's unique data and analytical solutions
and innovative technology with Capital IQ Pro's deep functionality
and breadth of content," said Mark
Hale, Chief Executive Officer of Visible Alpha. "We are
grateful to the banks that have been with us since the beginning
and will continue to support Visible Alpha following the
transaction."
Visible Alpha is backed by a group of investment banks who
expect to continue contributing data following the transaction,
with further information available at VisibleAlpha.com.
S&P Global is also exploring strategic opportunities for
Fincentric, formerly known as Markit Digital.
Mr. Kansler added: "'We are highly disciplined in reviewing our
businesses and focusing our investment in our core areas of growth.
The acquisition of Visible Alpha, combined with creating new
opportunities for Fincentric in a strategic transaction, helps
position us forward to execute against some of our largest and most
strategic growth areas."
Fincentric is S&P Global's premier digital solutions
provider focused on developing mobile applications and websites for
retail brokerages and other financial institutions. Fincentric
specializes in designing cutting-edge financial data
visualizations, interfaces and investor experiences.
"Fincentric is a pioneering business with a track record of
delivering unique high-quality digital experiences and tools to
some of the largest financial institutions in the market. I've had
the pleasure of working directly with this team over the past
decade and seeing first-hand their entrepreneurial approach and the
incredible innovation they've delivered for our customers. We are
excited to see the next phase of Fincentric's growth and are
committed to finding a path for Fincentric that will maximize its
opportunity to thrive and capitalize on the many vectors of growth
available to this business," concluded Mr. Kansler.
Fincentric joined S&P Global through the merger with IHS
Markit. The agreement to acquire Visible Alpha and the exploration
of strategic opportunities for Fincentric are part of ongoing
portfolio reviews to accelerate focus in core areas of strategic
growth.
The transaction with Visible Alpha is subject to customary
closing conditions, including receipt of certain regulatory
approvals. It is expected to close during 2024 and the financial
terms of the transaction were not disclosed. The Company does not
expect these proposed transactions to have a material financial
impact to S&P Global Market Intelligence or the Company as a
whole.
Skadden, Arps, Slate, Meagher & Flom LLP is acting as
S&P Global's legal advisor. Jefferies LLC is acting as Visible
Alpha's exclusive financial advisor and Morgan, Lewis & Bockius
LLP is acting as Visible Alpha's legal advisor.
Forward-Looking Statements: This press release
contains "forward-looking statements," as defined in the Private
Securities Litigation Reform Act of 1995. These statements,
including statements about the completed merger (the "Merger")
between a subsidiary of S&P Global Inc. (the "Company") and IHS
Markit Ltd. ("IHS Markit"), which express management's current
views concerning future events, trends, contingencies or results,
appear at various places in this press release and use words like
"anticipate," "assume," "believe," "continue," "estimate,"
"expect," "forecast," "future," "intend," "plan," "potential,"
"predict," "project," "strategy," "target" and similar terms, and
future or conditional tense verbs like "could," "may," "might,"
"should," "will" and "would." For example, management may use
forward-looking statements when addressing topics such as: the
outcome of contingencies; future actions by regulators; changes in
the Company's business strategies and methods of generating
revenue; the development and performance of the Company's services
and products; the expected impact of acquisitions and dispositions;
the Company's effective tax rates; and the Company's cost
structure, dividend policy, cash flows or liquidity.
Forward-looking statements are subject to inherent risks and
uncertainties. Factors that could cause actual results to differ
materially from those expressed or implied in forward-looking
statements include, among other things:
- the impact of the acquisition of Visible Alpha, including the
impact on the Company's results of operations; any failure to
successfully integrate the acquired departments into the Company's
operations; and any failure to attract and retain key
employees;
- the risk of litigation, unexpected costs, charges or expenses
relating to the acquisition;
- risks related to the satisfaction or waiver of the conditions
to closing the acquisition (including the failure to obtain
necessary regulatory approvals) in the anticipated timeframe or at
all, including the possibility that the acquisition does not
close;
- the occurrence of any event, change or other circumstance or
condition that could give rise to the termination of the
acquisition agreement;
- risks related to the ability to realize the anticipated
benefits of the acquisition, including the possibility that the
expected benefits from the acquisition will not be realized or will
not be realized within the expected time period;
- the process by which the Company engages in evaluation of
strategic alternatives for Fincentric;
- the Company's ability to identify potential merger or
acquisition partners for Fincentric;
- worldwide economic, financial, political, and regulatory
conditions (including slower GDP growth or recession, instability
in the banking sector and inflation), and factors that contribute
to uncertainty and volatility, natural and man-made disasters,
civil unrest, public health crises (e.g. pandemics), geopolitical
uncertainty (including military conflict), and conditions that may
result from legislative, regulatory, trade and policy changes;
- the volatility and health of debt, equity, commodities, energy
and automotive markets, including credit quality and spreads, the
level of liquidity and future debt issuances, demand for investment
products that track indices and assessments and trading volumes of
certain exchange-traded derivatives;
- the demand and market for credit ratings in and across the
sectors and geographies where the Company operates;
- the Company's ability to successfully recover should it
experience a disaster or other business continuity problem from a
hurricane, flood, earthquake, terrorist attack, pandemic, security
breach, cyber attack, data breach, power loss, telecommunications
failure or other natural or man-made event, including the ability
to function remotely during long-term disruptions;
- the Company's ability to maintain adequate physical, technical
and administrative safeguards to protect the security of
confidential information and data, and the potential for a system
or network disruption that results in regulatory penalties and
remedial costs or improper disclosure of confidential information
or data;
- the outcome of litigation, government and regulatory
proceedings, investigations and inquiries;
- concerns in the marketplace affecting the Company's credibility
or otherwise affecting market perceptions of the integrity or
utility of independent credit ratings, benchmarks, indices and
other services;
- the effect of competitive products and pricing, including the
level of success of new product developments and global
expansion;
- the Company's exposure to potential criminal sanctions or civil
penalties for noncompliance with foreign and U.S. laws and
regulations that are applicable in the domestic and international
jurisdictions in which it operates, including sanctions laws
relating to countries such as Iran, Russia,
Sudan, Syria and Venezuela, anti-corruption laws such as the
U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act of
2010, and local laws prohibiting corrupt payments to government
officials, as well as import and export restrictions;
- the continuously evolving regulatory environment, in
Europe, the United States and elsewhere around the
globe, affecting S&P Global Market Intelligence, S&P Global
Ratings, S&P Global Commodity Insights, S&P Global
Mobility, S&P Dow Jones Indices, and the products those
business divisions offer including our ESG products, and the
Company's compliance therewith;
- the Company's ability to make acquisitions and dispositions and
successfully integrate the businesses we acquire;
- consolidation in the Company's customers, suppliers or
competitors;
- the introduction of competing products or technologies by other
companies;
- the impact of customer cost-cutting pressures, including in the
financial services industry and the commodities markets;
- a decline in the demand for credit risk management tools by
financial institutions;
- the level of merger and acquisition activity in the United States and abroad;
- the volatility and health of the energy and commodities
markets;
- our ability to attract, incentivize and retain key employees,
especially in today's competitive business environment;
- the level of the Company's future cash flows and capital
investments;
- the impact on the Company's revenue and net income caused by
fluctuations in foreign currency exchange rates;
- the Company's ability to adjust to changes in European and
United Kingdom markets as the
United Kingdom leaves the European
Union, and the impact of the United
Kingdom's departure on our credit rating activities and
other offerings in the European Union and United Kingdom; and
- the impact of changes in applicable tax or accounting
requirements on the Company.
The factors noted above are not exhaustive. The Company and its
subsidiaries operate in a dynamic business environment in which new
risks emerge frequently. Accordingly, the Company cautions readers
not to place undue reliance on any forward-looking statements,
which speak only as of the dates on which they are made. The
Company undertakes no obligation to update or revise any
forward-looking statement to reflect events or circumstances
arising after the date on which it is made, except as required by
applicable law. Further information about the Company's businesses,
including information about factors that could materially affect
its results of operations and financial condition, is contained in
the Company's filings with the Securities and Exchange Commission,
including Item 1A, Risk Factors, in our most recently filed
Annual Report on Form 10-K, which can be obtained at its website at
http://www.sec.gov.
About S&P Global
S&P Global (NYSE: SPGI)
provides essential intelligence. We enable governments, businesses
and individuals with the right data, expertise and connected
technology so that they can make decisions with conviction. From
helping our customers assess new investments to guiding them
through ESG and energy transition across supply chains, we unlock
new opportunities, solve challenges, and accelerate progress for
the world.
We are widely sought after by many of the world's leading
organizations to provide credit ratings, benchmarks, analytics and
workflow solutions in the global capital, commodity and automotive
markets. With every one of our offerings, we help the world's
leading organizations plan for tomorrow, today. For more
information, visit www.spglobal.com.
Media Contacts
Christina
Twomey
S&P Global
+1 (410) 382-3316
christina.twomey@spglobal.com
Farhan Husain
S&P Global Market Intelligence
+1 347 213 0065
farhan.husain@spglobal.com
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