London Stock Exchange Group confirms talks on Octus acquisition

London Stock Exchange Group PLC on Tuesday confirmed that it is in talks about potentially taking over financial data firm Octus.

Shares in LSEG fell 5.8% to 8,256.00 pence on Tuesday afternoon in London.

The exchange operator and provider of market data and indices is in discussions with Octus' owner, private equity firm Permira, regarding an acquisition of Octus for approximately USD3.5 billion.

"Octus is a leading credit intelligence, data and workflow provider for buy-side firms, investment banks, law firms and advisory firms," LSEG said. "Octus' proprietary data covers the full credit lifecycle, with a leading position in illiquid and private credit – a high-growth segment of the market. Octus has a strong track record of double-digit revenue growth based on a high-retention subscription model.

"Octus' coverage and solutions are highly complementary to LSEG's existing fixed income data & analytics and private markets solutions."

LSEG believes that acquiring Octus would be "immediately accretive" to its Data & Analytics and group revenue growth.

However, LSEG, which was responding to "recent press speculation," said that it and Permira have not reached any final agreement, and that no transaction is not guaranteed.

Earlier on Tuesday, Reuters reported that LSEG, Permira and Octus had held talks on a potential acquisition, citing "two people familiar with the matter".

LSEG and Permira declined to comment at that point, while Octus did not respond to Reuters' request for comment.

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