KKR Sells Ipreo to Blackstone, Goldman

Goldman Sachs' merchant banking arm is one of Ipreo's new owners

Investment and advisory firm Blackstone and Goldman Sachs' Merchant Banking Division have bought market intelligence and workflow solutions provider Ipreo from private equity firm Kohlberg Kravis Roberts, in a deal that media reports value at $975 million (£582 million).

Under the deal, KKR will continue to hold a minority stake in Ipreo, which was created in 2007 by the merger of fundamental data and investor relations provider Hemscott, i-Deal and Marketpipe (IMD, Jan. 1, 2007).

Ipreo sold Hemscott to research and data vendor Morningstar for $51.6 million in cash a year later (IMD, Jan. 4, 2008), but retained Hemscott's Bigdough database of financial industry contact data, and over the last three years has bought Debtdomain, a web-based systems for managing the bank loan syndication process, and financial services database Discovery Data, establishing new operations in Raleigh, North Carolina, and expanding its footprint globally.

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