Well-known international hedge fund The Carlyle Group LP (NASDAQ:CG) and several co-investors have signed an agreement to acquire Dealogic, a global provider of data and analytics and market intelligence software solutions for financial institutions, as well as two joint ventures, for approximately $700 million. Carlyle’s coinvestors include former hedge fund manager Randall Winn and Euromoney Institutional Investor PLC. The deal is anticipated to close within the next 60 days.
The Carlyle Group is using funds from Carlyle Partners VI, their $13 billion U.S. buyout fund, to finance the Dealogic transaction.
More on Dealogic
Dealogic is an industry leader in enterprise software for financial institutions. The firm is headquartered in New York and London, with regional offices in Hong Kong, Budapest, Tokyo, Mumbai, Sydney, Beijing, and São Paulo. The innovative software provider offers solutions to more than 500 clients globally including all of the world’s top 50 investment banks.
Statement from Dealogic
Cam Dyer, Managing Director of The Carlyle Group, was enthusiastic about the buyout, “Dealogic is a globally recognized and trusted brand and its software and data platform is the de facto standard for the investment banking industry. Through its 30-year history, Dealogic has invested heavily in developing its technology to create solutions that drive productivity and profitability for its customers and has become an increasingly important part of its customers’ critical work flows. We believe that Dealogic, with its talented management and employee base, will build on that success by introducing newly developed SaaS solutions and growing via acquisition to expand its relationships with customers.”
Statement from Carlyle
Tom Fleming, CEO of Dealogic, also commented positively, “Dealogic is a growth company and we have been investing heavily in our technology and information to create new, innovative products and enhanced services. We are excited to partner with Carlyle and will benefit enormously from their significant experience in the financial services technology sector and deep relationships across the financial community. Given our strong, long-standing relationships with our customers and excellent staff, Dealogic fits perfectly with the Carlyle model of investing in strong businesses and helping them considerably accelerate their growth and development.”