London Stock Exchange To Sell BETA+ Platform For $1.1B

  • The London Stock Exchange Group has agreed to divest BETA, Maxit, and Digital Investor (collectively BETA+) to affiliates of Clearlake Capital Group L.P and Motive Partners for total cash consideration of $1.10 billion, before tax and separation costs.
  • LSEG expects to close the deal in 2H22. LSEG plans to return a significant proportion of the net proceeds to shareholders via a buyback.
  • BETA+ provides back-office processing solutions to the wealth management industry, including securities processing and tax reporting.
  • In 2021, BETA+ had revenues of $300 million, primarily linked to U.S.markets.
  • Andrea Remyn Stone, Group Head Data & Analytics, LSEG, said, "The divestment of BETA+ will focus LSEG's Wealth business on meeting our customers' needs in high growth areas."
  • LSEG acquired BETA+ as a part of the Refinitiv deal. Earlier, Refinitiv was part of Thomson Reuters Corp TRI, which was then acquired by LSEG for $27 billion.
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