Kohlberg Kravis Roberts seeks to buy Ipreo Holdings for $425 million
23 May 2011
Private-equity firm Kohlberg Kravis Roberts & Co is planning to buy Ipreo Holdings, a provider of capital-markets data to banks and financial institutions, for $425 million in cash,Tthe Wall Street Journal said, citing people familiar with the matter.
KKR is acquiring Ipreo from another buyout firm, Veronis Suhler Stevenson LLC.
New York-based Ipreo, formed by the 2006 merger of financial information companies i-Deal and Hemscott, with the backing of Veronis, Merrill Lynch and Citigroup, is a leading global provider of market intelligence, deal execution platforms, and investor communication tools to investment banks and corporations around the world.
Its expertise lies in serving the capital markets, and has the world's leading investment banks, and hundreds of Fortune 1000 & FTSE 100 corporations as customers,
The company has more than 600 employees worldwide with operations throughout the US, Europe and Asia. It generated about $130 million in annual revenue last year.
New York-based KKR is one of the world's leading private-equity firms with $61 billion of assets under management as of 31 December 2010.