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Technology > Marketing Technology

S&P Global to Buy Fintech Firm Kensho for $550M

By Janet Levaux

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S&P Global plans to buy machine-learning, analytics and artificial intelligence provider Kensho Technologies for about $550 million to boost its emerging fintech capabilities.

The news comes just two weeks after the data, ratings and benchmarks provider said it was acquiring Panjiva, a fintech firm that uses technology to mine large, unstructured datasets tied to the global supply chain.

“In just a short amount of time, Kensho’s intuitive platforms, sophisticated algorithms, and machine-learning capabilities have established a wide following throughout Wall Street and the technology world,” said S&P Global President & CEO Douglas Peterson, in a statement. “Via this acquisition, S&P Global is demonstrating a strong commitment to not just participating in the fintech evolution, but leading it,” Peterson explained.

S&P Global, which issues ratings, benchmarks and other data to capital and commodity markets, launched a Fintech Venture Investment program and also invested in several fintech companies last year: Kensho, Algomi of London and Ursa Space Systems, an alternative data technology company.

“Combining our unique and industry-leading expertise in machine learning with S&P Global’s deep data sets, global-scale analytics platforms, essential benchmarks, illustrious reputation, and strong leadership team will allow Kensho to expand and innovate faster, further and in new ways,” said Daniel Nadler, Kensho’s founder &  CEO, in a statement. Also, the deal “values Kensho at a premium to its most recent funding round.”

“Today’s announcement is an important step forward for our company as we strongly believe that new technologies like artificial intelligence and natural language processing will revolutionize our industry in the future,” explained S&P Global CFO Ewout Steenbergen, in a statement.

Janet Levaux

@Think_JanetL

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NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.