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Monday 13 May 2019

Ion's Acuris ambitions highlight rising fortunes

According to reports, Irish, financial services software and information provider, Ionion, is set to make another major acquisition. The Financial Times has revealed that, Dublin-based Ion, is looking to acquire, Acuris, the owner of UK financial services information provider, Mergermarket, in a deal worth more than £1bn. Acuris is currently in the hands of private equity group, BC Partners, who are said to be in talks to sell the company to Ion for around £1.35bn.

Ion, itself is backed by US private equity group, Carlyle. The company has been highly acquisitive of late and has spent around £7bn since 2005 adding 20 companies to its portfolio. In 2018, Ion acquired banking technology provider, Fidessa, for £1.5bn, having seen off a rival bid from Swiss core banking provider Temenos (see: All iond out as Fidessa joins dearly departed).

If completed, the acquisition of Acuris, will help to extend Ion’s breadth of offerings and strengthen its data and analytics proposition in the capital markets space. Acuris made a pre-tax profit of £23m in 2017 and looks to be a pretty reasonable addition to the Ion stable. Meanwhile, BC Partners originally bought Acuris, in 2013, from the Pearson Group for £382m and has therefore turned a healthy profit on the deal. Highlighting the industry appetite for such services and the rising fortunes of providers in this segment.

Posted by Jon C Davies at '08:29' - Tagged: acquisiiton   M&A  

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