Database Reference: F231109-343
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Location: UK, London
Business description: Markit is a leading, global financial information services company with over 1,400 employees. The company provides independent data, valuations and trade processing across all asset classes in order to enhance transparency, reduce risk and improve operational efficiency.
Category: Market Data
Contact 1: Lance Uggla, Chief Executive Officer, co-founder
Contact 2: Kevin Gould, President – Markit North America, Global Head of Fixed Income and Structured Products, co-founder
Contact 3: Chip Carver, Chief Operating Officer
Contact 4: Roy Flint, Global Head of Infrastructure
Contact 5: Rony Grushka, Chief Financial Officer, co-founder
Contact 6: Bill Ford, CEO of General Atlantic
Investors: General Atlantic
Amount raised: $250,000 for a 7.5% equity stake
Details: Markit, a leading, global financial information services company, today announced that global growth investor General Atlantic (GA) has agreed to make a substantial equity investment in Markit. According to Wall Street Journal a 7.5% stake for $250 million. According to a Financial Times story dated 29th October 2009, the company reported 2008 revenues of $348.1m and is believed to have seen that rise more than 25 per cent this year.
Recent acquisition activity
13/10/2010 – Markit Completes Acquisition of ClearPar
Markit has completed its acquisition of ClearPar. ClearPar is an automated syndicated loan operations platform used for the settlement of par and distressed loan trades in the U.S. and Europe. The ClearPar business, which will be rebranded in due course, will operate from Markit’s offices in London, New York City and Valley Cottage, NY.