Financial News & Info Firm Hemscott Merges with Investor Relations Firm i-Deal

Hemscott, the UK-based financial information and news firm (I use the website regularly), has been bought out and merged with financial markets software house i-Deal, and the new merged company is called Ipreo, in a deal overseen by PE investor Veronis Suhler Stevenson. Ipreo is now majority owned by VSS, with significant minority stakes held by Citibank and Merrill Lynch, the original sponsoring members of i-Deal. The new company will have approximately 600 employees globally, based in the US, UK, and India. Combined revenues will be approximately $100 million for 2006.
Also, the new company has bought out Marketpipe, a UK-based provider of fixed income new-issue software solutions.
Some more details in the release here.
FT: VSS acquired a controlling stake in Hemscott in August 2004 and later pushed through the purchase of bigdough, a capital markets database. In August this year, Hemscott agreed to delist from London’s Aim market and merge with New York-based i-Deal, which specialises in new issuance software and analytics for equity, fixed income, and municipal offerings. Citigroup and Merrill Lynch, which backed i-Deal, will invest in Ipreo alongside VSS.

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