FactSet Research Systems Inc., a financial data supplier, has agreed to purchase S&P Global Inc.’s QSIP Global Services for $1.9 billion in cash to acquire data elements for new financial instruments.
FactSet said the planned purchase of the securities-identification data firm will help it advance its open data strategy in a statement Monday.
S&P is selling QSIP and other businesses to gain regulatory approval for its $39 billion acquisition of IHS Markit Ltd. To ease competition concerns, IHS also agreed to sell its Base Chemicals business to News Corp. for $295 million.
Cusip is the exclusive provider of CUSIP and CINS identifiers globally, and serves as the official numbering agency for ISIN identifiers in the US.
FactSet will fund the transaction through a combination of cash on hand and committed financing. The deal is expected to close in the first quarter.
FactSet is a competitor of Bloomberg News’ parent company, Bloomberg LP.
Never miss a story! Stay connected and informed with Mint.
download
Our App Now!!
,