SeanShot
- S&P Global (NYSE:SPGI) agreed to acquire Visible Alpha, a provider of consensus data, analyst models, and analytics, building on its S&P Capital IQ platform of Wall Street data, the company said on Tuesday. Financial terms weren't disclosed.
- At the same time, SPGI said it's exploring strategic options for its Fincentric business, which develops mobile applications and websites for retail brokerages and other financial institutions.
- "We are highly disciplined in reviewing our businesses and focusing our investment in our core areas of growth," said Adam Kansler, president of S&P Global Market Intelligence. "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."
- The Visible Alpha transaction is expected to close in 2024. S&P Global (SPGI) said it doesn't expect that the acquisition or potential transactions regarding Fincentric will have a material financial impact on S&P Global Market Intelligence or the company as a whole.
- S&P Global stock edged up 0.2% in Tuesday premarket trading.