McGraw Hill has acquired mining data firm SNL Financial for US$2.225 billion.
It bought the firm for cash, from New Mountain Capital.
"We are enthusiastic about SNL because it is a fast-growing, highly complementary subscription-based business that will enable us to accelerate our strategy to be the leading provider of transparent and independent benchmarks, analytics, data and research across the global capital, commodity and corporate markets," Douglas L. Peterson, president of McGraw Hill Financial, said.
"This transaction provides unique opportunities to provide our customers with end-to-end data solutions and to develop exciting new services, enhance existing offerings, and expand into attractive adjacent markets.
“Adding SNL to our portfolio creates a high-growth market data and analytics business that will leverage the power of the S&P Capital IQ and Platts global platforms to realise the full potential of SNL's financial and commodities products."
Mike Chinn, SNL Financial CEO, said the acquisition marks a major milestone for the company.
“We believe McGraw Hill Financial, Doug Peterson and his leadership team are ideal partners as we relentlessly pursue our mission of providing the highest quality sector-specific data, news and analytics to our clients,” Chinn said.
McGraw Hill will fund the transaction through US$525 million in cash and US$1.7 billion in new debt.
Evercore and Goldman Sachs acted as financial advisors, while Wachtell, Lipton, Rosen & Katz and Clifford Chance LLP acted as legal advisors to McGraw Hill Financial.