LSEG Confirms $3.5 Billion Talks to Buy Credit Intelligence Provider Octus From Permira
LSEG Confirms $3.5 Billion Talks to Buy Credit Intelligence Provider Octus From Permira #
London Stock Exchange Group has confirmed it is in discussions to acquire Octus, a New York-based credit intelligence and data provider, from private equity firm Permira in a deal worth approximately $3.5 billion. LSEG issued the confirmation via its Regulatory News Service filing on 13 October 2026, stressing that no final agreement has been reached and that no transaction is guaranteed.
Octus, founded in 2013 and formerly known as Reorg, is a leading provider in illiquid and private credit markets, offering proprietary data and analysis across the full credit lifecycle. The platform serves more than 40,000 credit professionals, including lenders, lawyers, and restructuring specialists, through a high-retention subscription model that has delivered consistent double-digit revenue growth in recent years.
Permira acquired a controlling stake in Octus from Warburg Pincus in 2022 in a transaction that valued the business at $1.3 billion. The private equity firm has been exploring an exit since last year and is said to have held discussions with other potential acquirers before LSEG emerged as the frontrunner. According to Reuters, Octus is expected to generate approximately $145 million in EBITDA this year, rising to around $200 million in 2027, figures that imply a valuation of 18 to 24 times forward earnings.
LSEG said the deal would be immediately accretive to revenue growth within its Data and Analytics division, with Octus’s offerings complementary to its existing fixed income data and analytics and private markets products. The company also cited potential cross-selling opportunities with Tradeweb, the electronic bond-trading platform in which LSEG holds a majority stake, and Yield Book, its fixed-income analytics tool.
LSEG shares fell as much as 4.7% in early trading after the disclosure, reflecting investor concerns about the premium implied by the deal’s price and near-term integration costs. The deal requires regulatory approval, and LSEG said it would provide further information as appropriate without setting a specific timetable. Vista Equity Partners is separately reported to be exploring a sale of private markets software provider Allvue.
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