S&P Global and IHS Markit have agreed to merge in a deal that will unite two of the world’s biggest financial data services companies, one of which has a significant presence in the lubricants industry.
The transaction will be accomplished through a stock trade that values London-based IHS at $44 billion. IHS’s Oil Markets, Midstream and Downstream Services division includes a focus on lubricants that is staffed by a dozen specialists – some of whom also concentrate on other industries – that publish market reports and articles about the industry.
In 2018, Bloomberg ranked S&P and IHS as the world’s third- and fifth-largest financial data services companies, with 2017 revenues of $6.1 billion and $3.6 billion, respectively. The companies said Monday that S&P’s revenue increased to $7.3 billion by last year and IHS’s to $4.3 billion.
S&P, which takes its name from the former Standard & Poors, is a leading provider of credit ratings and stock and commodity markets analytics. S&P also has a presence in the lubricants industry as its Platts is a well-recognized provider of price assessments of crude oil among other commodities.
IHS’s concentration of lubricants dates largely to its 2011 acquisition of Purvin & Gertz. It focuses on transportation, resource and financial services industries. Officials said the merged company, which will retain the S&P name, will better serve customers by allowing them to benefit from the expertise and insights of both companies.