LSEG agrees to buy Octus to expand its credit data business
LSEG agreed to acquire credit intelligence provider Octus from Permira in an all-cash transaction valuing the business at 3.535 billion dollars. Octus serves investment firms, banks, law firms and advisers with data and workflow tools. Its products expanded during Permira's ownership. The agreement remains subject to customary regulatory approvals and conditions before completion.
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LSEG reaches an agreement for credit-data provider Octus
LSEG, the London Stock Exchange operator and financial data group, agreed to acquire credit-data specialist Octus from investment firm Permira. The agreement adds Octus' credit intelligence and workflow business to LSEG's planned acquisitions. Permira announced the agreement as a strategic exit for its investment funds.[1], [2]
The all-cash transaction values Octus at 3.535 billion dollars. Completion remains subject to customary regulatory approvals and conditions. LSEG chief executive David Schwimmer said combining Octus' proprietary information with LSEG's existing data and analytics capabilities would bring credit information and workflow tools to a broader customer base.[1]
Octus expands products during Permira's ownership
Permira's funds acquired Octus in 2022 and worked with founder and chief executive Kent Collier and the management team. Annual recurring revenue more than tripled over roughly four years. Permira attributed the increase to nearly doubling the number of products sold into credit markets during its ownership.[1]
FinDox, Sky Road and LevPro were among the businesses acquired during that period. Collier said internal development and acquisitions expanded the offering to cover fundamental financial data, document management and portfolio management tools. Octus serves more than 40,000 subscribers worldwide, including investment firms, investment banks, law firms and advisory businesses.[1]
Credit documents feed a structured data service
Octus teams collect hard-to-access credit documentation, private fundamental data, covenants and deal terms, turning them into structured, searchable information. Court filings, transcripts and financial documents are among the material processed. Permira said the platform had completed more than four million automated classifications, one million structured data extractions and more than 250,000 content summaries this year.[1]
The agreement is the Permira funds' sixth strategic exit this year. Permira also reported distributing 13 billion dollars to investors in the preceding twelve months. Evercore and Goldman Sachs advised Permira and Octus financially, while Weil, Gotshal & Manges and McDermott Will & Schulte provided legal advice. Kleinberg, Kaplan, Wolff & Cohen and Moulton Moore Stella advised the chief executive and management team on legal matters.[1]
