Ion Investment Group has agreed to recapitalize Dealogic, a portfolio company of Carlyle Group LP.
Dealogic, a global provider of data and analytics for the capital markets, is headquartered in New York and London. Dublin-based Ion provides trading and workflow automation software solutions to financial institutions, central banks, governments and corporations.
Under the transaction, Ion is acquiring a controlling stake in Dealogic, and Carlyle and management are retaining significant ownership. The transaction is subject to customary approvals and is expected to close in the fourth quarter.
UBS Investment Bank acted as exclusive financial adviser to Ion and provided committed financing in support of the transaction. J.P. Morgan acted as exclusive financial adviser to Dealogic.
Ion will also acquire Euromoney Institutional Investor Plc's minority stake in Dealogic for $135 million. The transaction is subject to regulatory approvals and is expected to take about six weeks, Euromoney said, adding that Dealogic will continue to provide league tables and data analytics for its Global Capital business.
Euromoney agreed to acquire the 15.5% stake for $59.2 million in November 2014.