Kohlberg Kravis Roberts & Co has confirmed it has signed an agreement with private investment firm Veronis Suhler Stevenson to acquire Ipreo, the market intelligence company with hundreds of public company clients around the world.
The terms of the transaction have not been disclosed. An article overnight in the Wall Street Journal, which broke the story, said Ipreo would be acquired for $425 mn in cash, citing people familiar with the situation.
‘We see great potential for growth and are excited to partner with an industry leader with Ipreo’s depth of experience and reputation for service,’ says Thomas Uger, director of KKR, in a statement.
Ipreo was formed in 2006 through the merger of i-Deal and Hemscott. Since then, it has grown to employ more than 600 staff worldwide.
Click here to read the press release.
Update – Ipreo has come back with some comment. ‘There will be no direct impact on Ipreo clients in terms of the services they subscribe to or the people they work with at Ipreo,’ an Ipreo spokesperson tells IR Magazine in an email.
‘Given the strength of KKR’s experience, financial backing and global reach, however, we expect to be even better positioned to drive innovation and product development, to the benefit of all our clients.’
