Operator of exchanges and clearing houses Intercontinental Exchange (NYSE: ICE) has announced that following U.S. Department of Justice clearance, the company will close its acquisition of S&P Global’s (NYSE: SPGI) Securities Evaluations (SPSE) and Credit Market Analysis (CMA), two assets within the S&P Global Market Intelligence division.
ICE shared that it expects to fund the purchase price with cash and the transaction is expected to close in October 2016, at which time SPSE and CMA will become part of ICE Data Services. ICE has announced its intent to acquire the companies on March 1, 2016, with an objective to offer its customers around the world new data and valuation services.
Lynn Martin, ICE
Lynn Martin, President and Chief Operating Officer of ICE Data Services, said:
We believe this transaction will support ICE Data Services’ strong commitment to drive innovation and best-in-class service to meet our customers’ growing data needs.”