Octus Intelligence

Financial Data · Credit Markets · Fintech

Acquisition

LSEG Acquires Credit Data Firm Octus From Permira for $3.535B

The deal shields the exchange operator from AI disruption fears by locking up proprietary credit data no language model can scrape.

• LSEG agreed to acquire Octus for $3.535 billion in cash from funds advised by Permira and Octus management, including founder Kent Collier, with closing expected in H1 2027.
• Founded in 2013, Octus provides credit intelligence, data and workflow tools focused on private, illiquid and distressed credit, with 900+ employees, 750 customers and over 40,000 users.
• The all-cash deal is being financed with external debt and is expected to be neutral to adjusted earnings in year one before becoming accretive; Octus will add $300-320 million in revenue this year.
• LSEG shares jumped about 6% on the news, and the acquisition is the exchange group's largest since its $27 billion purchase of Refinitiv in 2019.
• The deal lands just days after Tradeweb, majority-owned by LSEG, agreed to buy bond-trading platform Trumid for almost $2 billion, signaling a broader push to own the full credit-data stack.
• The acquisition comes as LSEG faces pressure from activist investor Elliott, which has pushed for portfolio changes, alongside the company raising its 2026 revenue guidance.
• With private credit estimated at $3.5 trillion and the data market for it worth $7-9 billion, the deal positions LSEG to control pricing, risk and portfolio data across both public and private credit.