S&P Global To Purchase Kensho Technologies For About $550 Mln - Quick Facts

(RTTNews) - S&P Global (SPGI) announced an agreement to acquire Kensho Technologies Inc. for approximately $550 million, net of cash acquired, for a mix of cash and stock.

Kensho, a technology company founded in Harvard Square in 2013 by Daniel Nadler, is a provider of next-generation machine learning and analytics to financial institutions as well as the National Security community.

S&P Global expects to close this deal late in the first quarter of this year or early second quarter. Kensho will continue to operate independently in Cambridge, Massachusetts and remain a distinct brand. Nadler will report to S&P Global' finance chief Ewout Steenbergen.

As a result of this acquisition, S&P Global lowered its 2018 GAAP earnings per share guidance by approximately twenty cents to a range of $7.95 - $8.10 and not changing its 2018 adjusted earnings per share guidance of $8.45 to $8.60.