S&P Global Expands Private Markets Reach with $1.8 Billion With Intelligence Acquisition
Focus Keyword: S&P Global acquisition of With Intelligence
Introduction
S&P Global (NYSE: SPGI) has recently announced a transformative agreement to acquire With Intelligence, a premier source of private markets data and insights, for a staggering $1.8 billion. This strategic move significantly enhances S&P Global’s data offerings in private markets—a space that is set to grow to nearly $40 trillion by 2030—solidifying its commitment to delivering innovative and transparent solutions.
Overview of the Acquisition
Details of the Agreement
The acquisition, led by the majority investor Motive Partners, a private investment firm focused on financial technology, marks a pivotal moment for S&P Global. The integration of With Intelligence’s proprietary data, benchmarks, and workflow solutions aims to create an unmatched data offering tailored for General Partners (GPs), Limited Partners (LPs), and financial intermediaries.
Enhanced Value Proposition
By combining With Intelligence’s advanced analytics with S&P Global’s established reputation, this acquisition seeks to deliver robust, end-to-end intelligence that caters to the complex needs of private markets participants.
Background on With Intelligence
Founded in 1998
With Intelligence was established by Charlie Kerr in 1998, boasting a rich history in providing data for alternative asset classes. The firm has developed a robust network reaching approximately 3,000 global customers, allowing it to source invaluable insights directly from LPs and GPs.
Industry Recognition and Growth
Since partnering with Motive Partners in 2020, With Intelligence has evolved into a leading provider of data analytics in private markets, projecting approximately $130 million in revenue by 2025 with strong annual contract growth.
Strategic Implications for S&P Global
Expanding Data Coverage
“Private markets represent one of the most dynamic sectors in global finance, and our priority is to provide differentiated data in this arena,” said Martina Cheung, President and CEO of S&P Global. With this acquisition, S&P Global aims to extend its trusted legacy into this crucial market, ensuring quality data and insightful analytics.
Integration of Services
The combination of With Intelligence’s capabilities with S&P Global’s portfolio—ranging from private company data on S&P Capital IQ Pro to integrated solutions like iLEVEL and performance metrics—will provide unmatched clarity needed to navigate complex investment landscapes.
Insights from Leadership
Statements from S&P Global Executives
Saugata Saha, President of S&P Global Market Intelligence, emphasized the value this acquisition will add to customers, enhancing existing solutions and creating new avenues for informed decision-making amidst an increasingly intricate investment environment.
Charlie Kerr, Founder of With Intelligence, expressed enthusiasm about the merger, highlighting the opportunity to leverage S&P Global’s extensive reach for enhanced growth and service delivery.
The Role of Motive Partners
Rob Heyvaert, Founder and Managing Partner of Motive Partners, commended the collaborative efforts that have led to building a differentiated business in private markets. He believes that S&P Global is well-positioned to elevate With Intelligence’s success to the next level.
Expected Benefits of the Acquisition
Comprehensive Data Solutions
This acquisition is anticipated to yield deeper insights, increased connectivity, and greater transparency within the private markets ecosystem. It will include enhanced fund data and relationship intelligence, which will significantly benefit industry participants.
Future Outlook
The regulatory approval process is underway, with the transaction expected to close in late 2025 or early 2026. While initially slightly dilutive to GAAP diluted EPS, it is projected to become accretive to adjusted diluted EPS by 2027, positing a favorable financial outlook.
Conclusion
In summary, S&P Global’s acquisition of With Intelligence signifies a bold step toward redefining the landscape of private market intelligence. With an extensive array of industry data and analytics, this partnership is set to enhance decision-making, transparency, and operational efficiency for financial market participants.
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Keywords: S&P Global acquisition, With Intelligence, private markets data, financial technology acquisition, Motive Partners, financial analytics, alternative assets.
