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Dealogic’s owners Carlyle Group and Euromoney have agreed to sell a controlling stake in the company to a Dublin-based fintech investment group, with Euromoney more than doubling its investment in the financial data provider after just three years.
Ion Investment Group will take a controlling stake in Dealogic, with Carlyle and the company’s management maintaining “significant” minority ownership.
Ion and Carlyle did not provide details on the full financial terms of the deal. However, Euromoney said it will receive around $135m for its 15.5 per cent stake.
That represents a 128 per cent increase on the $59.2m the London-listed publisher and events group paid for its share of the company in 2014.
Dealogic sells data, analytics, market intelligence and capital markets services used by investment bankers around the world.
Ion already has businesses providing software and services ranging from securities pricing to schedule management for commodity shipping, and Andrea Pignataro, Ion founder and chief executive, said Dealogic’s business will be “highly complementary”.
Together, we will be able to accelerate the digitisation and automation of capital markets and introduce innovations to how financial institutions, investors and issuers conduct their business.
Carlyle also has a minority stake in Ion, and Mr Pignataro said the private equity group “continues to be a great partner in supporting our growth strategy.”
Tom Fleming, Dealogic chief executive, said:
We are excited to partner with Ion and will benefit from the strength of their platforms and their established network of relationships with financial institutions and corporations.
Shares in Euromoney rose more than 4 per cent in early trading to £12.05.