Intercontinental Exchange (ICE) has confirmed the acquisition of S&P’s securities evaluation and credit market analysis units, following clearance from the US Department of Justice.
Both businesses are within the S&P Global Market Intelligence division and are to be integrated into the exchange’s data business, ICE Data Services.
The acquisition was initially announced in March this year as ICE looked to expand its data and valuation services.
ICE Data Services boosted the exchange’s second quarter revenues this year, with sales up 134% compared to the same period last year.
The surge followed ICE’s acquisition of Interactive Data - completed in December last year – which it said is ahead of its integration schedule.
Chief operating officer at ICE Data Services Lynn Martin, said the acquisition of S&P’s securities and credit market data businesses, “will support ICE Data Services’ strong commitment to drive innovation.”
She added it will also help meet its clients’ growing data needs.
The transaction is expected to completed in October of this year.