BENGALURU: Data firm IHS Markit Ltd. said on Monday it will buy smaller rival Ipreo from private equity funds of BlackStone Group LP and Goldman Sachs for $1.86 billion to expand its customer base.
“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,” said Chief Executive Lance Uggla.
The buyout arm of Blackstone and Goldman Sachs acquired Ipreo from another buyout firm, KKR & Co. LP, in April 2014.
Ipreo supports participants including banks, public and private companies raise capital. The deal, which will be funded through debt financing from HSBC, is expected to close in the second half of 2018, subject to regulatory approvals.
Thomson Reuters Corp, the parent company of Reuters News, competes with Ipreo and IHS Markit in some segments of the financial data business.
Barclays and HSBC are the financial advisers for IHS Markit.
Data firm IHS Markit to buy rival Ipreo for $1.86 billion
Data firm IHS Markit to buy rival Ipreo for $1.86 billion
Saudi Arabia sees 21% jump in mining sector licenses since 2016
- The growth in the Kingdom’s mining sector licenses aligns closely with Saudi Arabia’s Vision 2030 objectives, launched in 2016
RIYADH: Saudi Arabia’s mining sector has shown sustained growth, with the number of mining licenses increasing from 1,985 in 2016 to 2,401 by the end of 2024, representing cumulative growth of 21 percent, according to the 2024 mineral wealth statistics from the General Authority for Statistics.
The data highlights a steady upward trend in recent years. Licenses rose to 2,100 in 2021, marking a 6 percent increase from the previous year.
The upward trajectory continued with 2,272 licenses in 2022, 2,365 in 2023, and 2,401 in 2024, reflecting expanding exploration and investment activity across the Kingdom’s mining sector. Building material quarries accounted for the largest share of mining permits, climbing from 1,267 licenses in 2021 to 1,481 by 2024.
Exploration licenses also recorded consistent growth, supporting the Kingdom’s broader push to develop its mineral resources.
Other categories of mining activity saw significant expansion, including 2,554 exploration licenses, 744 exploitation licenses, 151 reconnaissance licenses, and 83 surplus mineral ore licenses issued during the same period.
The growth in the Kingdom’s mining sector licenses aligns closely with Saudi Arabia’s Vision 2030 objectives, launched in 2016, which aim to diversify national income sources and strengthen non-oil sectors.
