Analytics company S&P Global has sold its enterprise data management (EDM) and thinkFolio businesses to private equity firm STG. The financial terms of the purchase deals have not been disclosed.
The EDM platform is used by buy and sell-side financial institutions to manage and organise large volumes of data, including market, reference, and ESG data.
STG has purchased the platform for its portfolio company Gresham, a data automation and reconciliation solutions provider for financial services firms. Gresham Technologies was acquired by STG in 2024 and merged with fellow STG portfolio company Alveo, a cloud-based data management, analytics, and Data-as-a-Service provider.
With the deal now closed, STG states that the EDM business will “continue to operate its current range of products within Gresham, maintaining its product roadmap, customer relationships, and delivery model”.
The EDM team will transfer to Gresham through the acquisition, including current managing director Neil Robertson, who has been involved in the business through various leadership capacities since 2012.
STG has also bought the thinkFolio business first acquired by S&P Global through its $44 billion all-stock acquisition of IHS Markit in February 2022.
The thinkFolio software provides tools for order management (OMS), portfolio modelling, compliance monitoring, and cash management, catering to both cash and derivative markets.
S&P Global first announced the divestiture of both businesses to STG in October, the same month it agreed to acquire investment data provider With Intelligence for $1.8 billion.
