Mon, 21 Dec 2015 | BUSINESS SALE
Barclays has confirmed that it has sold its risk analytics and benchmark indices business to Bloomberg.
The bank announced the sale last Wednesday (16 December), confirming that the financial information provider was sold for £480 million.
Michael Bloomberg, founder of the purchasing company, commented: “As financial markets continue to evolve, our clients need and expect the index business to evolve too.”
Barclays chief executive, Jes Stanley, added that the firm is “pleased to partner closely with Bloomberg upon completion of the transaction”.
A co-branding arrangement between the two businesses will run for five years initially, before being reviewed.
This isn't the first time that Barclays has put this area of its business up for sale; back in 2014 it designated it as 'non-core' and launched an unsuccessful auction after potential buyers realised that Bloomberg owned some bond pricing data associated with the sale, meaning it would not be included in the earlier mooted sale.
Clearly this data issue was not a problem to Bloomberg who saw the purchase as an opportunity to bolster the data it provides. Included in the index business are inflation-linked, fixed income and swaps indices.
View other professional and financial businesses for sale.
Opportunity to acquire a discretionary investment managing £45m of clients funds with recurring income of £500,000.
Opportunity to acquire an established IFA business circa £42m AUM located in Glasgow with room for further growth.
Newcastle based IFA offered for sale, the practice benefits from low ongoing advisor charge of 0.6% providing room for potential uplift maximising profits post acquisition.
17
|
May
|
Focus Group continues acquisitive growth with telecoms deal | BUSINESS SALE
Business communications provider Focus Group has continued i...
17
|
May
|
Foresight-backed lab services group acquires sample storage specialist | BUSINESS SALE
Biofortuna, a laboratory services group backed by SME invest...
17
|
May
|
Brown & Brown acquires two insurance brokers | BUSINESS SALE
Brown & Brown (Europe) has continued its acquisitive activit...
07
|
Mar
|
MBO completed at Nottingham IT supplier | MBO/MBI
A Nottingham-based firm that provides IT solutions to a rang...
28
|
Sep
|
AXA to offer wrap platform in private equity sale | BUSINESS SALE
AXA is set to offer its wrap platform Elevate to private equ...
27
|
Aug
|
Axa to sell some of its UK businesses | BUSINESS SALE
Axa is set to sell some of its UK businesses as they are rep...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.