Carlyle Group to buy financial data firm Dealogic for $700 mn

US private equity firm The Carlyle Group and other investors yesterday agreed to buy financial data firm Dealogic, for about $700 million.

Carlyle, along with Euromoney Institutional Investor, a London-based business and financial magazine publisher, and Randall Winn, the co-founder and former CEO of the data provider Capital IQ is buying Dealogic from its managers and founders, who also will invest equity in the deal.

The acquisition also includes Dealogic's two related joint ventures, Carlyle said in a statement

Carlyle, based in Wahington, said that it will fund the deal from Carlyle Partners VI, a $13-billion US buyout fund.

Based in n New York and London with offices in Hong Kong, Budapest, Tokyo, Mumbai, Sydney, Beijing, and São Paulo, Dealogic is a global provider of data and analytics, market intelligence and capital markets software solutions for financial institutions.

It provides its solutions to more than 500 clients globally including each of the world's top 50 investment banks.

Cam Dyer, managing director of Carlyle, said, ''Dealogic is a globally recognised and trusted brand and its software and data platform is the de facto standard for the investment banking industry. Through its 30-year history, Dealogic has invested heavily in developing its technology to create solutions that drive productivity and profitability for its customers and has become an increasingly important part of its customers' critical work flows.''

Tom Fleming, CEO of Dealogic, said, ''Dealogic is a growth company and we have been investing heavily in our technology and information to create new, innovative products and enhanced services.  We are excited to partner with Carlyle and will benefit enormously from their significant experience in the financial services technology sector and deep relationships across the financial community.''