New York asset manager the Carlyle Group (Nasdaq: CG) and other co-investors are buying Dealogic, a data and analytics provider for financial institutions, for about $700 million.
Dealogic, headquartered in New York and London, supplies market intelligence and capital markets software to more than 500 clients, including the world's top 50 investment banks.
Carlyle is partnering with Randall Winn, co-founder and former CEO of Capital IQ, and Euromoney Institutional Investor plc on the transaction. Carlyle is making the deal from Carlyle Partners VI, a $13 billion U.S. buyout fund.
The new owners plan for Dealogic to develop new software-as-a-service offerings and make add-on acquisitions.
Carlyle has invested about $18.9 billion in equity in technology, media and telecommunications and business services transactions. Other investments include SS&C Technologies, OpenLink Financial, Syniverse Technologies, Nielsen Holdings and CommScope. The firm has $203 billion in assets under management across 129 funds and 141 fund of funds.
Barclays Capital Inc. (NYSE: BCS) and J.P. Morgan Ltd. (NYSE: JPM) are advising Carlyle on the deal, as well as providing financing through their respective lending segments. Deutsche Bank Securities Inc. has also provided financing for the transaction.
Latham & Watkins LLP is Carlyle's legal adviser. Investec is running the sale process for Dealogic, while Linklaters LLP handles legal matters. Euromoney tapped Gleacher Shacklock as financial adviser and Herbert Smith Freehills LLP as legal counsel.
Other financial data, services and media deals include UCG's purchase of PE and VC assets from Thomson Reuters, including PEhub.com, and Observer Capital's purchase of SourceMedia, Mergers & Acquisitions' publisher.