BlackRock has agreed to buy UK data firm Preqin for 2.55 billion pounds (US$3.23 billion) in cash, the Financial Times reported on Sunday, citing people familiar with the matter.
BlackRock declined to comment on the report. Preqin did not respond to Reuters' request for comment.
Reuters reported earlier this month that the London Stock Exchange Group and S&P Global were among potential bidders for the data provider.
Preqin, which was founded in 2003, specialises in data about the alternative investment industry. The UK-based company has subscribers in more than 90 countries, according to a Companies House filing.
Preqin's revenue for the year ending Dec. 31, 2022, was 134 million pounds (US$171 million), an increase of 45pct on 2021, according to its Companies House filings. Its operating loss widened to 7.9 million pounds from a 3.2 million pound loss in 2021.
In 2021, Preqin bought a controlling stake in fund administration data provider Colmore. --REUTERS