S&P Global Inc. has agreed to acquire machine intelligence company Kensho Technologies Inc. for about $550 million, net of cash acquired, for a mix of cash and stock.
Kensho Technologies provides analytics, artificial intelligence, machine learning and data visualization systems. Its analytical tool will help accelerate S&P Global's transformation, S&P Global President and CEO Douglas Peterson said.
Following the acquisition, Kensho Technologies will continue to operate independently in Cambridge, Mass., and remain a separate brand. Its founder, Daniel Nadler, will report to S&P Global CFO Ewout Steenbergen.
The transaction is expected to close late in the first quarter or early second quarter.
As a result of the acquisition, S&P Global is reducing its 2018 GAAP EPS guidance by about 20 cents to a range of $7.95 to $8.10. The company's 2018 adjusted EPS guidance of $8.45 to $8.60 remains unchanged.
The S&P Capital IQ consensus normalized EPS estimate for 2018 is $8.53.
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