LSEG confirms talks to acquire credit data provider Octus from Permira for about $3.5B

London Stock Exchange Group has confirmed it is in discussions with Permira to buy Octus for approximately $3.5 billion, after Reuters and Bloomberg reported the talks. LSEG said no final agreement has been reached and no transaction is guaranteed; any deal would need regulatory approval.

Founded in 2013 by CEO Kent Collier and headquartered in New York, Octus provides credit intelligence, data and workflow tools to buy-side firms, investment banks, law firms and advisers. Its data covers the full credit lifecycle, with a leading position in illiquid and private credit.

LSEG said Octus has a record of double-digit revenue growth on a high-retention subscription model, and that the deal would be immediately accretive to Data & Analytics and group revenue growth.

Permira bought a controlling stake in Octus from Warburg Pincus in 2022 at a $1.3 billion valuation. LSEG shares fell about 4.7% on the day.