S&P Global plans to strengthen its capabilities in emerging technologies through the acquisition of Kensho Technologies, a provider of next-generation data analytics, artificial intelligence (AI), machine learning and data visualisation systems to financial institutions and national security. The company will acquire Kensho for about $550 million and expects the deal to close late this quarter or early next.
Kensho was founded in 2013 by Daniel Nadler, a Harvard PhD, with a mission to develop and deploy scalable AI systems that have a real-world impact across government and commercial organisations. The company has been named a ‘technology pioneer’ by the World Economic Forum.
The acquisition of Kensho will strengthen S&P Global’s emerging technology capabilities, enhance its ability to deliver actionable insights for clients, and accelerate efforts to improve efficiency and effectiveness of internal operations.
Douglas Peterson, president and CEO at S&P Global, says: “In just a short amount of time, Kensho’s intuitive platforms, sophisticated algorithms, and machine learning capabilities have established a wide following throughout Wall Street and the technology world. With this acquisition, S&P Global is demonstrating a commitment to not just participate in the fintech evolution, but lead it.”
Nadler, founder and CEO at Kensho, adds: “Kensho has assembled one of the most elite AI teams in the world, drawing from the scientific community’s leading global research universities. Combining our industry-leading expertise in machine learning with S&P Global’s deep datasets, global scale analytics platforms, essential benchmarks, reputation and leadership team will allow Kensho to expand and innovate faster, further and in new ways. This deal values Kensho at a premium to its most recent funding round.”
In 2017, S&P Global launched a Fintech Venture Investment programme and invested in several fintech companies including Algomi, a London-based fintech company; Ursa Space Systems, an alternative data technology company; and Kensho.
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