M&A advisory for financial data & analytics companies
Financial data is one of the most consistently active M&A pockets in fintech, and the buyer universe is narrow enough to name. The exchange groups, rating agencies, index providers and major information businesses acquire programmatically, and three or four PE-backed consolidators have built scaled platforms in the mid-market. Multiples on contracted ARR, net revenue retention and dataset depth hold up through cycles.
Strategic acquirers are the exchange groups (LSEG, ICE, Nasdaq, CME, Deutsche Boerse), the rating agencies (S&P Global, Moody's, Fitch), index providers (MSCI, FTSE Russell) and the broader information businesses like Bloomberg and FactSet. PE-backed platforms - Hg, EQT, Silver Lake, Advent, Permira - have built consolidation vehicles in the mid-market and remain consistent buyers across cycles. Flow has direct access to this group.
Flow team has relevant sector experience and has worked with financial data and analytics companies across market data vendors, alternative data providers, ESG and ratings businesses, research platforms and analytics for asset managers, banks and corporates.
"Financial data & analytics" KPIs M&A buyers look at
Key metrics strategics and PE buyers look at when analayzing financial data & analytics M&A targets
ARR
Net revenue retention
Gross margin
Contracted backlog
Data royalty cost
Logo retention
ACV per customer
Deferred revenue
Active terminals / seats
Financial data & analytics valuations in May 2026
Public financial data & analytics comps trade at 4.9x EV/Revenue. Median revenue multiple across financial data & analytics M&A deals was 7.1x in the last 12 months.
4.9x
Median EV/Revenue as of May 2026 for public financial data & analytics companies
8.8x
S&P Global is the highest valued public financial data & analytics company based on EV/Revenue (excluding outliers)
7.1x
Median EV/Revenue across financial data & analytics M&A deals in the last 12 months
16x
Median EV/Revenue across financial data & analytics VC rounds in the last 12 months
Key recent financial data & analytics M&A deals
$6.0B acquisition of Enverus by Blackstone was the largest financial data & analytics M&A transaction completed in the last year.
See all financial data & analytics M&A deals| Logo | HQ | Description | Buyer | ||||
|---|---|---|---|---|---|---|---|
Aug-25 | Enverus |  | Enverus is an Austin-based SaaS provider of data analytics and intelligence platforms for the global energy sector. The company aggregates petabytes of data on oil and gas production, renewables generation, and power markets to support asset optimization, M&A due diligence, and trading. Enverus serves over 400 energy companies including ExxonMobil and Chevron with tools like PRISM for drilling analytics and Data Platform for ESG reporting. Acquired by Genstar Capital in 2021, it operates across North America, Europe, and Asia-Pacific. | Blackstone | $6.0B | - | |
Oct-25 | With Intelligence |  | With Intelligence is a data provider delivering profiles, fund details, personnel information, indices, news, performance metrics, thought leadership, analyst views, and investor preferences. Headquartered in London, it caters to private equity, venture capital, and real assets sectors. The platform supports deal sourcing, due diligence, and market intelligence for financial professionals globally. | S&P Global | $1.8B | 14x | |
May-26 | Information Services Corporation |  | Information Services Corp is a Canada-based provider of registry and information management services for public data and records. The company has three segments namely Registry Operations, Services and Technology Solutions. The Registries segment involves the provision of registry and information services and solutions to governments and private sector organizations. The Services segment provides products and services that utilize public records and data to provide value to customers in the financial and legal sectors. Technology Solutions provides the development, delivery and support of registry (and related) technology solutions. The company derives maximum revenue from Registry Operations segment. | Plenary Americas | $1.2B | 6.4x | |
Dec-25 | GoCardless | | GoCardless is a London-headquartered fintech that facilitates Direct Debit and bank payments for businesses handling domestic and international collections. The platform connects to over 2,300 banks across Europe and provides customer bank account data access for risk management and product enhancement. With offices in London, Paris, Riga, Melbourne, and New York, GoCardless supports more than 75,000 businesses globally including partnerships with Xero and Salesforce. | Mollie | $1.2B | 7.1x | |
Jul-25 | Calastone | | Calastone is the world's largest funds network connecting over financial institutions across 52 countries. Headquartered in London with offices in Luxembourg, Hong Kong, Taipei, Singapore, New York, Milan, and Sydney, the platform processes fund transactions totaling hundreds of billions monthly. Launched in 2008, it automates trade settlement, order routing, and data services for asset managers, platforms, and banks to reduce costs and risks in the investment funds industry. | SS&C Technologies | $1.0B | 9.4x | |
Nov-25 | Commodity & Ingredient Hedging | | Commodity & Ingredient Hedging is a risk management firm headquartered in Ankeny, Iowa, offering services for agriculture commodities including dairy, crop, beef, and hog margins. The company delivers hedging strategies and educational programs to processors and producers in the United States. | Tokio Marine | $970M | 7.5x | |
Mar-26 | TradingHub | | TradingHub is a provider of trade data analytics for financial services firms including global banks, asset managers, hedge funds, and regulators. Its product suite applies advanced analytic techniques to detect market abuse, identify rogue traders, evaluate best execution, and assess trader performance. | Nordic Capital | $750M | 11x | |
Sep-25 | Center for Research in Security Prices | | Center for Research in Security Prices is a Chicago-based organization affiliated with the University of Chicago Booth School of Business. Established in 1963, it maintains comprehensive historical databases of U.S. and international stock prices, returns, dividends, and trading volumes dating back to 1925. The CRSP datasets support academic research and are licensed to financial institutions for quantitative analysis and index construction. | Morningstar | $375M | 6.8x | |
Oct-25 | BMLL Technologies | | BMLL Technologies is a London-headquartered provider of Level 3 historical market data and analytics for capital markets firms. Originating from the University of Cambridge in 2014, it offers T+1 order book reconstruction for equities, futures, and ETFs across 25 exchanges. Clients including Citadel and Morgan Stanley access cloud-based tools for back-testing, risk analysis, and alpha generation via a single portal with unlimited compute. | Nordic Capital | $250M | - | |
Mar-26 | izumi Finance |  | - | CIMG | $200M | - | |
Sep-25 | Signal AI | | Signal AI is a London-headquartered media intelligence platform that processes data from news outlets, social media, regulatory filings, broadcasts, and podcasts to deliver actionable insights. Its platform employs both discriminative and generative AI models to detect risks, monitor reputations, track ESG developments, and ensure regulatory compliance for enterprise clients including major banks and corporations. Key offerings include customizable dashboards, real-time alerts, detailed insight reports, API integrations, and the Ask AIQ conversational assistant for narrative exploration. Founded in 2013, Signal AI serves global organizations from its base in England, United Kingdom, with additional offices in New York and Singapore. | Battery Ventures | $165M | - | |
Jan-26 | Tres |  | Tres is a Web3 finance platform automating reconciliation, balance tracking, auditing, and reporting for crypto assets from fiat on-ramps to off-ramps. The tool integrates with 50+ blockchains and wallets, reducing manual processes for treasury teams at DeFi protocols and funds. Tres provides real-time dashboards and compliance exports, launched in 2022 to streamline digital asset accounting. | Fireblocks | $130M | - | |
Dec-25 | kACE | | kACE is a financial technology platform offering multi-asset pricing analytics, data distribution, deal capture, and middleware connectivity solutions. | Smart Trade Technologies | $119M | - | |
Jul-25 | Coin Metrics | | Coin Metrics is a New York-headquartered provider of blockchain network data, market metrics, and risk analytics for institutional investors. The firm publishes daily on-chain reports for Bitcoin, Ethereum, and over 200 assets, alongside proprietary indexes like Reference Rates tracked by CME Group. Coin Metrics supplies APIs to hedge funds and exchanges, including Chainalysis for transaction monitoring. | Talos | $100M | - | |
Oct-25 | Credas | | Credas is a UK digital identity verification provider combining biometric facial recognition, document authentication, eSign, and client engagement tools. Manchester-headquartered since 2016, it serves sectors like fintech, gaming, and recruitment. The platform verifies identities in under 30 seconds, compliant with GDPR and UK Strong Customer Authentication standards, with integrations for Salesforce and DocuSign. | SmartSearchTriple Private Equity | $99M | - |
Most active buyers of financial data & analytics companies
Triple Private Equity, MSCI and Nordic Capital are the most active acquirers of financial data & analytics companies in the last three years.
See all financial data & analytics acquirers| Logo | HQ | Description | Key acquisitions | ||
|---|---|---|---|---|---|
Triple Private Equity | | Triple Private Equity is a London-based specialist firm investing in B2B data and software companies within financial services, risk management, and compliance sectors. The firm targets mid-market enterprises in Europe and North America, executing buyouts and growth capital deals. Triple Private Equity supports platforms handling regulatory reporting, anti-money laundering tools, and credit analytics. | Derivia IntelligenceEuromoney magazineCredas+1 | 4 | |
MSCI | | MSCI has described its mission as enabling investors to build better portfolios for a better world. MSCI's largest and most profitable segment is its index segment, where it provides benchmarking to asset managers and asset owners. MSCI boasts over $18 trillion in benchmarked assets, including over $2.3 trillion in ETF assets linked to MSCI indexes. The MSCI analytics segment provides portfolio management and risk management analytics software to asset managers and asset owners. In its sustainability and climate segment, MSCI provides ESG data to the investment industry. In private assets, MSCI provides real restate reporting, market data, benchmarking, and analytics to investors and real estate managers. | PM InsightsCompass Financial TechnologiesFoxberry+1 | 4 | |
Nordic Capital |  | Nordic Capital is a Stockholm-headquartered private equity firm investing in healthcare, technology, and industrials across Europe and the US. It manages over €40 billion in assets through funds like Fund XI, with exits including Verisure and Hilti. Offices in London, New York, and Guernsey support buyouts and growth capital. | TradingHubBMLL TechnologiesActiveViam+1 | 3 | |
S&P Global | | S&P Global provides data and benchmarks to capital and commodity market participants. Its ratings business is the largest credit rating agency in the world and S&P's largest segment by profitability. S&P's largest segment by revenue is market intelligence, which provides desktop, data and advisory solutions, enterprise solutions, and credit/risk solutions mostly in the financial-services industry. S&P's other segments include energy (formerly commodity insights, this segment includes Platts and other data), mobility (Carfax), and indexes. S&P plans to spin off mobility in 2026. | Drift.aiWith IntelligenceVisible Alpha+1 | 3 | |
CUBE | | CUBE is a London-headquartered RegTech firm delivering regulatory intelligence to banks and asset managers worldwide. Established in 2005, it processes 50,000 daily updates from 200 jurisdictions using NLP and ML for compliance alerts. CUBE serves 300 clients including HSBC and Deutsche Bank, automating reporting for MiFID II, SFTR, and ESG mandates. Its platform covers 10 million regulatory documents with tailored risk profiles. | 4CRisk.aiThomson Reuters (regulatory intelligence unit)Reg-Room+1 | 3 | |
FE fundinfo |  | FE fundinfo is a Luxembourg-based provider of fund data platforms serving asset managers, banks, insurance companies, and financial advisors across Europe. It handles mandatory publications, document dissemination, and data distribution for over 100,000 investment funds, including UCITS and AIFs. The platform supports daily updates and regulatory compliance under PRIIPs and MiFID II, with operations in 20 countries and integrations for platforms like Morningstar and Bloomberg. | ContengoFundipediaFinscape+1 | 2 | |
Gresham Technologies | | Gresham Technologies is a London-headquartered software provider listed on the London Stock Exchange main market. It develops the Clareti platform for real-time transaction reporting, reconciliation, and data integrity in financial services. Customers in Europe, North America, and Asia-Pacific use its solutions for regulatory compliance, risk management, and payments processing. | S&P Global (EDM unit)AlveoElectra Information Systems | 2 | |
Broadridge | | Broadridge Financial Solutions, which was spun off from Automatic Data Processing in 2007, is a leading provider of investor communication and technology-driven solutions to banks, broker/dealers, traditional and alternative-asset managers, wealth managers, and corporate issuers. Broadridge is composed of two operating segments: investor communication solutions and global technology and operations. | CQGCompSci ResourcesiJoin Success+1 | 2 | |
FalconX | | FalconX is a San Mateo-headquartered digital asset prime brokerage serving institutional clients with trading execution, financing, credit, and custody across 200 cryptocurrencies. Founded in 2018, it connects to 80 exchanges for aggregated liquidity and employs quantitative models for optimal pricing in spot, derivatives, and OTC markets. Hedge funds, market makers, and family offices rely on its API-driven platform for portfolio management in global crypto markets. | 21SharesArbelos Markets | 2 | |
SPINS | | SPINS is a Chicago-headquartered analytics provider tracking sales data for natural, organic, and specialty products across 50,000 retailers in North America. It delivers insights via SPINS Data, Access, and Checkout services covering CPG brands like Clif Bar and Annie's. Partnerships with NielsenIQ enhance syndicated reports on trends in supplements, beverages, and snacks for manufacturers and grocers. | DatasemblyData CouncilMikMak+1 | 2 |
Founders and investors we've worked with
We've supported winning builders across financial data & analytics and beyond.
Rebellion Pay
We acted as exclusive sell-side advisor to Rebellion Pay, Spain's leading Gen Z neobanking platform, on its sale to Turkish consumer fintech unicorn Papara.
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MAILINGWORK
We acted as exclusive sell-side advisor to MAILINGWORK, a Chemnitz-based email marketing software platform, on its sale to French digital marketing leader Positive Group.
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TestSolutions
We acted as exclusive financial advisor to Swiss PE firm Patrimonium on its majority stake acquisition of TestSolutions, a Frankfurt-based software testing and IT services provider.
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HAPPYCAR
We acted as exclusive sell-side advisor to HAPPYCAR, a Hamburg-based pan-European rental car comparison and booking platform, on its sale to Dutch online price comparison player EasyTerra.
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Resillion
We provided buy-side advice to a dominant TIC industry player on the carve-out and acquisition of Resillion (fka Eurofins Digital Testing), a Hasselt-based digital testing, cybersecurity and forensics provider.
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