RALEIGH, N.C. and NEW YORK, N.Y. – Ipreo has been acquired by private equity funds managed by Blackstone and Goldman Sachs Merchant Banking Division, the two investment firms announced Thursday.
The New York firm last year established a major presence in downtown Raleigh and currently employs 182 workers.
Kohlberg Kravis Roberts & Co., another private equity firm that acquired Ipreo in 2011, brokered the deal. Several news outlets reported a $975 million price tag, but the official sum was not disclosed by any of the involved parties.
“Ipreo is an extraordinary company with tremendous potential for growth,” said Martin Brand, Senior Managing Director of Blackstone. “We are pleased to partner alongside management and Goldman Sachs to position Ipreo for continued innovation and success.”
Ipreo is a global provider of market intelligence, new issuance software, and investor communication tools to investment banks and public companies. It is the only provider of capital markets solutions across the equity, fixed income, municipal and syndicated loan markets.
Ipreo especially is known for its “Bigdough” database, widely recognized as the leading source for institutional contact data and investor profiles, relied upon by capital markets and corporate professionals alike. Ipreo clients include the world’s leading investment banks and hundreds of corporations listed on all the major exchanges around the globe.
“We are very excited to partner with Blackstone and Goldman Sachs in our next phase of development,” said Scott Ganeles, Chief Executive Officer of Ipreo. “The weeks of working together towards closing have only strengthened our view that both firms bring the experience, relationships, and market expertise to support not only our growth as a company but also our ability to bring new and enhanced services to our clients.”
The deal was first announced in April.